Scott Bessent says Iran's 'creaking' oil sector is shutting down production due to a U.S. blockade, warning of gasoline shortages and a full production collapse.
The petrodollar order is fracturing. Abu Dhabi’s departure from OPEC marks the most significant defection in the cartel’s history, coming just after the Treasury signaled emergency financial backing.
In an unusually blunt speech at a Wall Street Journal event, Treasury Secretary Scott Bessent told Americans the AI race is not years away—it’s a matter of months. He warned that the U.S. lead over China is razor-thin, and the window to act is closing fast.
Treasury Secretary Scott Bessent said Friday that discussions over U.S. dollar swap lines are part of routine talks with Gulf and Asian partners, framing the move as a strategic step to reinforce dollar dominance and create new funding hubs abroad.
Treasury Secretary Scott Bessent, while reiterating his desire for lower interest rates, conceded the Federal Reserve may need to wait for clearer economic signals, marking a subtle shift in the administration's pressure campaign amid persistent inflation and geopolitical turmoil.
Treasury Secretary Scott Bessent has publicly endorsed the Federal Reserve's cautious approach to interest rates, citing economic strength and the unpredictable fallout from the Iran conflict as key reasons to pause any cuts.
U.S. Treasury Secretary Scott Bessent indicated that Trump-era tariffs could be restored by July, a move economists warn could exacerbate existing inflationary pressures, already heightened by ongoing conflict in the Middle East.
U.S. Treasury Secretary Scott Bessent argues that short-term economic strain is a justified price to neutralize the Iranian nuclear threat, even as the IMF warns the conflict risks tipping the global economy into recession.
U.S. Treasury Secretary Scott Bessent cautions the Federal Reserve against premature rate cuts, citing economic strength and geopolitical uncertainty from the Iran war, which has already triggered a sharp spike in energy prices and inflation.
U.S. Treasury Secretary Scott Bessent is exploring reforms to the Federal Reserve's oversight framework, drawing inspiration from the Bank of England's structure. This comes as the central bank faces unprecedented political pressure and scrutiny over its independence and policy decisions.
At a private political gathering in South Carolina, Treasury Secretary Scott Bessent's off-the-cuff remarks targeting fellow Republicans—including jokes about Senator Lindsey Graham's personal life and a crude comment about Rep. Nancy Mace—have ignited a firestorm, raising questions about decorum within the party.
Treasury Secretary Scott Bessent faced intense questioning on Meet the Press regarding the administration's decision to lift sanctions on Iranian oil, struggling to justify a move that could provide Tehran with billions in revenue amid ongoing tensions.
A tense exchange unfolded on 'Meet the Press' as Treasury Secretary Scott Bessent challenged the premise of host Kristen Welker's questions regarding the financial underpinnings of the ongoing Iran conflict, asserting the U.S. has ample resources without raising taxes.
In a heated exchange on NBC's 'Meet the Press,' Treasury Secretary Scott Bessent repeatedly invoked empathy for former President Trump when pressed about his celebratory comments on Robert Mueller's death, sidestepping questions about the appropriateness of the statement.
Treasury Secretary Scott Bessent justifies recent U.S. military strikes and economic maneuvers against Iran, framing aggressive tactics as a path to eventual de-escalation, even as critics warn of a dangerous spiral.
Treasury Secretary Scott Bessent argues that escalating military pressure on Iran may be necessary to ultimately wind down the conflict, as the administration grapples with volatile energy markets and political risks ahead of the midterms.
Amid soaring energy prices and domestic political pressure, Treasury Secretary Bessent reaffirms the administration's commitment to military action against Iran's Strait of Hormuz defenses, framing it as a necessary step for long-term regional security.
U.S. Treasury Secretary Scott Bessent described high-level talks with Chinese Vice Premier He Lifeng in Paris as "constructive," signaling a temporary stabilization in relations despite looming trade investigations and a postponed presidential visit.
Treasury Secretary Scott Bessent left a Sky News interview in progress after being urgently called away by President Trump, highlighting the administration's focus on the ongoing Iran mission amid rising global energy prices.
Vice Premier He Lifeng will lead a Chinese delegation to France this weekend for crucial economic consultations with US Treasury Secretary Scott Bessent, setting the tone for an anticipated presidential summit later this month amid ongoing trade tensions.
