Scott Bessent’s “3-3-3” plan to stimulate growth, reduce the deficit and expand oil production will soon face economic realities.
Category: Treasury Department
Scott Bessent Helped ‘Break’ the Bank of England. Now He’ll Run the U.S. Treasury.
Scott Bessent’s former colleagues and rivals see the prospective Treasury secretary as a thoughtful choice with a broad understanding of financial markets.
How Trump Could Upend Electric Car Sales
Fewer people will be able to afford electric cars and trucks if President-elect Donald J. Trump and Republicans in Congress eliminate a $7,500 federal tax credit.
New Plan to Target Russia’s Oil Revenue Brings Debate in White House
Treasury officials want to impose penalties on tankers that help Russian oil evade sanctions. White House aides worry that risks making gasoline more expensive.
U.S. Seeks to Join Forces With Europe to Combat Excess Chinese Goods
Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat that requires a united response.
The Night That Sotheby’s Was Crypto-Punked
The auction that was supposed to be an art world coming-out party for NFTs instead exposed the instability at the heart of the crypto world.
U.S. National Debt Tops $33 Trillion for First Time
The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming.
Janet Yellen’s Trip to China: No Breakthroughs But 10 Hours of Talks
Treasury Secretary Janet Yellen, after 10 hours of meetings with Chinese officials, said the two sides would pursue “more frequent communication” despite their deep differences.
Wall St. Is Counting on a Debt Limit Trick That Could Entail Trouble
If the debt limit is breached, investors expect Treasury to put bond payments first. It’d be politically and practically fraught.
How ‘Extraordinary Measures’ Can Postpone a Debt Limit Disaster
Treasury Secretary Janet L. Yellen will soon need to use accounting maneuvers to keep the United States from defaulting on its debt.