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The Latest: Scott Bessent testifies before the House on Treasury Department priorities
The Latest: Scott Bessent testifies before the House on Treasury Department priorities Treasury Secretary Scott Bessent is back on Capitol Hill to testify before the House Ways and Means Committee on the department’s priorities, one day after he refused to say whether President Donald Trump and his family would still get immunity from IRS audits after the administration abandoned plans for a $1.776 billion compensation fund that would have benefited the president’s allies - Bookmark Treasury...
Treasuries Set for Best Week Since War Began as Oil Retreats
The US Treasury Department building in Washington.
Treasury warns banks of 'red flags' tied to customers in the US illegally
Treasury warns banks of 'red flags' tied to customers in the US illegally The Treasury's financial crimes unit is warning banks about the risks of serving people living in the country illegally - Bookmark Treasury’s financial crimes arm wants banks to help identify payroll schemes tied to people living in the country illegally, as part of the Trump administration's latest measure to clamp down on immigration. The Financial Crimes Enforcement Network — also known a FinCEN — issued an advisory...
Days after Michael and Susan Dell's more than $6 billion donation, Trump Accounts app goes live
The US Department of the Treasury this week announced the launch of the Trump Accounts app on App Stores available across America. The Trump Accounts app will be the main interface for these accounts and is available on all major mobile app stores. “The Trump Administration is taking another step forward in expanding opportunity for American families.
Bessent readies Trump $250 bill as one big hurdle stands between Treasury and making it reality
The Treasury Department is preparing a $250 note bearing President Donald Trump’s portrait for the nation’s 250th anniversary, but the bill can only move forward only if Congress changes federal law barring living people from U.S. currency. "It’s all up on Capitol Hill. At Treasury, we prepare things in advance.
Bessent readies Trump $250 bill as one big hurdle stands between Treasury and making it reality
The Treasury Department is preparing a $250 note bearing President Donald Trump’s portrait for the nation’s 250th anniversary, but the bill can only move forward only if Congress changes federal law barring living people from U.S. currency. "It’s all up on Capitol Hill. At Treasury, we prepare things in advance.
US tightens pressure on Iran with new sanctions and threats of more strikes
US tightens pressure on Iran with new sanctions and threats of more strikes Washington targets firms in China and Hong Kong accused of aiding Iranian weapons procurement as Trump warns of further military action The United States ramped up pressure on Iran on Wednesday, with President Donald Trump threatening more strikes and the Treasury Department slapping fresh sanctions on entities that it says “have supported weapons procurement” on behalf of Tehran, including some in China and Hong...
Automakers, retailers warn US memory-chip shortage is impacting prices
Automakers, retailers warn US memory-chip shortage is impacting prices WASHINGTON, June 3 : The increasing need for memory chips to power artificial intelligence data centers could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains, groups representing automakers, retailers, electronic firms and others said on Wednesday. The groups said in a letter to the U.S. Treasury and Commerce departments that "an urgent imbalance in the market for memory chips could lead to...
The back-channel bid to go soft on Maduro
When Marco Rubio was named secretary of State, many in both South Florida Republican circles and the American energy industry exulted. But one man who bridged both worlds knew he had a problem. A longtime investor in Venezuela, the main source of crude oil needed to produce the asphalt that had made his family rich, Harry Sargeant III kept relations with top officials in Caracas even as they seized most foreign oil holdings.
'Economic Fury' on Iran: US seizes Tehran's biggest crypto network amid peace talks
After unleashing ‘Epic Fury’ on Iran, the United States has launched another front to step up its pressure on the country. The US, on Tuesday, imposed sanctions on Iran’s largest cryptocurrency exchange, Nobitex, and several of its senior executives, accusing the platform of helping the Iranian government and sanctioned entities bypass Western restrictions. The move, ‘Economic Fury’ is part of the Trump administration’s efforts to increase economic pressure on Tehran amid the ongoing...