Washington, July 15 (IANS) The US Mint will begin striking a new $1 coin featuring President Donald Trump to commemorate 250 years of American independence, Treasury Secretary Scott Bessent said on Wednesday. The coin carries a portrait of Trump on one side.The word “Liberty” appears above the portrait, while the dates 1776-2026 are engraved below it.The words “In God We Trust” appear beside Trump’s portrait. Two stars flank the image.The reverse features an eagle with outstretched wings, holdin…
Latest Treasury Secretary Scott Bessent News & Updates
Washington, July 7 (IANS) America’s two biggest stock exchanges, the New York Stock Exchange and Nasdaq, joined together for the first time to ring the opening bell, using the unprecedented ceremony at the White House to mark the launch of President Donald Trump’s Trump Accounts investment programme for children.The event brought together senior executives from both exchanges, a collaboration that President Trump described as unprecedented.”First time we’ve ever had the New York Stock Exchange a…
Washington, June 19 (IANS) Two senior US senators from opposing political parties have urged the Trump administration to take stronger action against what they described as China’s continued currency manipulation, arguing that Beijing’s policies are distorting global trade and hurting American workers and manufacturers.In a letter sent to Treasury Secretary Scott Bessent following this week’s G7 summit in Evian, France, Democratic Senator Elizabeth Warren and Republican Senator Rick Scott called…
Washington, May 29 (IANS) The Trump administration has ruled out the creation of a US central bank digital currency (CBDC), with Treasury Secretary Scott Bessent arguing that government-issued digital money could become a tool for tracking financial activity and threatening personal freedoms. At a White House briefing, Bessent said the administration’s position on a digital dollar was unequivocal.”This administration has been very clear there will be no central bank digital currency,” he told re…
Washington, May 23 (IANS) President Donald Trump swore in Kevin Warsh as Chairman of the Federal Reserve Board and said he would restore confidence in the US’ Central bank.Speaking at the White House East Room ceremony on Friday, Trump called Warsh “one of the truly great chairmen of the Federal Reserve that we’ve ever had”.”He’s respected by everybody, and that’s so important in that position,” the US President said.Warsh took the oath of office from Supreme Court Justice Clarence Thomas before…
Washington, May 18 (IANS) The United States has issued a temporary 30-day general licence allowing transactions involving Russian oil currently stranded at sea, Treasury Secretary Scott Bessent said, describing the move as necessary to help “the most vulnerable countries” access energy supplies amid market uncertainty. “The US Treasury is issuing a temporary general license for 30 days to allow the most vulnerable countries to have access to Russian oil, which is currently stuck in the sea…
New Delhi, March 3 (IANS) Crude oil traded about 1 per cent higher on on Tuesday, showing signs of a temporary steading following over 10 per cent surge in previous session amid escalating conflict in West Asia and concerns about supply through the Strait of Hormuz.The US crude futures rose 1.4 per cent to $72.23. Brent crude gained 1.87 per cent to trade at $79.2 per barrel in early session on Tuesday.Iran’s retaliatory strikes on oil and gas facilities have heightened fears of supply disruptio…
Washington, Feb 28 (IANS) Top Senate Democrats have demanded that the Trump administration return more than $130 billion in tariffs declared illegal by the Supreme Court, escalating a political and legal confrontation over what they called money illegally taxed from American businesses and consumers.In a February 27 letter to Treasury Secretary Scott Bessent, the lawmakers said the administration must immediately begin issuing automatic refunds instead of forcing small businesses to go to court….
Washington, Feb 6 (IANS) A sharp partisan clash over inflation, bank regulation and financial stability dominated a Senate Banking Committee hearing on as Treasury Secretary Scott Bessent defended the administration’s economic record and the Financial Stability Oversight Council’s 2025 annual report.Stressing growth and affordability, Committee Chairman Tim Scott warned against policies that burden households. “A system that slows growth, limits opportunity or prices families out of basic …
New Delhi, Feb 5 (IANS) India on Thursday rejected a Bloomberg report which had claimed that a meeting between National Security Advisor (NSA) Ajit Doval and US Secretary of State Marco Rubio had taken place last year amid stalled trade talks between the two countries. The report had claimed further that it was conveyed to Washington that New Delhi was ready to wait until the end of US President Donald Trump’s term to finalise a trade deal. “There is absolutely no basis for that report. No such …