News list for " Treasury Secretary"
"When it comes to sovereign wealth funds, I said, 'monetizing the balance sheet' is definitely not what I want," Mr. Bescent, the Treasury secretary, said of revaluing gold reserves. Pressed if he would discuss the issue, he repeated, "It's not what I want." Gold reserves are currently priced at $42.22 an ounce, the traditional official price from decades ago. Revaluing these assets based on current market prices could...
US Treasury Secretary Vincent Bescent reiterated that the Federal Reserve's interest rate cut in September last year was too large. He revealed that he has breakfast with Federal Reserve Chairperson Powell every week and "saw him yesterday", but will not comment on the current policy of the Federal Reserve, only the past.
U.S. Treasury Secretary: Committed to reducing Iranian oil exports to 100,000 barrels per day.
Four years after former US Treasury Secretary Lawrence Summers accused US fiscal and monetary policymakers of over-stimulating and potentially triggering the biggest inflation blowout in a generation, he warned of the danger of renewed price pressures. "This is probably the most sensitive moment for inflation escalation since the policy missteps of 2021 triggered severe inflation," Mr. Summers said. "This is a moment where we have to be very careful about inflation, even before you see the polic...
After the U.S. Treasury Secretary named the dollar, the dollar briefly fell, and the market is currently pinning its hopes on tonight's non-agricultural sector. Analysts believe that these three factors may have a significant impact. Can the dollar rebound again?
Scott Bescent, US Treasury secretary, said he would not criticise the Federal Reserve chairperson and said the Trump administration was not focused on whether the Fed would cut its benchmark policy rate. Mr. Bescent's comments were notable given Mr. Trump's frequent criticisms of Jerome Powell, the Fed chairperson, during his first term as president, when he regularly called for interest rate cuts and explored the possibility of "firing" Mr. Powell. "I'm not going to make any comments on monetar...
Lawrence Summers, who served as Treasury secretary under Bill Clinton, argued that Mr. Trump's public statement that he "wants to see [interest rates] come down significantly" was a public intervention by the government that "could easily backfire and the Fed would not follow its advice". Mr. Summers added: Unless the financial marekt boom collapses, it will be difficult for the Fed to cut interest rates as much as expected. The Fed itself is eager to play down tensions with the White House. Mr....
On January 18th, US Treasury Secretary Janet Yellen sent a letter to the US Congress saying that as the US federal government is about to hit the debt ceiling, the Treasury Department will take extraordinary measures from January 21st to avoid debt default. In her letter, Yellen called on Congress to take action as soon as possible to raise or suspend the debt ceiling to protect the credibility and economic stability of the United States. She pointed out that the Treasury Department will start a...
Scott Bessent, President-elect Donald Trump's nominee to be Treasury secretary, told a Senate finance committee nomination hearing that he saw "no reason" for the US to have a central bank digital currency (CBDC). "I see no reason for the US to issue a central bank digital currency, which in my view is for countries that have no other investment option," he said. Bessent was appointed a cryptocurrency expert by Trump at the end of November last year, and he has a strong interest in cryptocurrenc...
Janet Yellen, the outgoing US Treasury secretary, has warned that the next administration's plan to extend the 2017 Republican tax cuts could disrupt the financial marekt and worsen an already challenging US fiscal outlook. "The projected fiscal path under current budget policy is simply not sustainable, and failure to act or take action that exacerbates the projected deficit could have dire consequences," Yellen said on Wednesday.
US Treasury Secretary Janet Yellen, we haven't seen much progress on inflation in the past few months.
U.S. Treasury Secretary Janet Yellen: The United States has provided Ukraine with $3.40 billion in additional budgetary assistance.
In a letter to congressional leaders, Janet Yellen, Treasury secretary, said the Treasury expected the US to hit the debt ceiling as early as January 14-23, 2025, and that "extraordinary measures" might be needed to avoid the federal government falling into default. Risk assets ended weaker just before the letter was released. US stocks fell, with the Standard & Poor's 500, Nasdaq 100 and Dow Jones Industries Average all down about...
On December 28, US Treasury Secretary Janet Yellen sent a letter to the US congressional leadership on the debt ceiling issue, asking Congress to take action to protect the credibility of the US government. Yellen is expected to initiate extraordinary measures from January 14 to 23, and said that the Treasury could reach the new debt ceiling on January 14-23.
Treasury Secretary Janet Yellen has written to congressional leadership on the debt ceiling, asking Congress to take action to protect the credibility of the US government. Yellen is expected to initiate extraordinary measures on January 14-23 and said the Treasury could reach the new debt limit on January 14-23.
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