WASHINGTON: US Treasury Secretary Scott Bessent on Tuesday accused India of “profiteering” by purchasing Russian energy cheaply and reselling refined energy products in global markets while defending Washington’s decision not to punish China for similar trade with Russia. FILE PHOTO: U.S. Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol (REUTERS) Bessent said…
Eight pages of documents detailing U.S. plans to “honor” Russian President Vladimir Putin during Trump’s failed summit with the world leader were allegedly left behind in the business center of an Alaskan hotel. NPR reported that the papers, which have not been confirmed as authentic, included U.S. State Department markings and were found on a…
The Marriner S. Eccles Federal Reserve building in Washington, DC. Photographer: Al Drago/Bloomberg (Bloomberg) — US short-dated bonds yields fell to their lowest levels in more than three months, reflecting conviction among traders that the Federal Reserve will cut interest rates in September. The two-year yield, among the most sensitive to changes in monetary policy,…
Traders work on the floor of the New York Stock Exchange on August 11, 2025. NYSE Small-cap stocks jumped on Wednesday, bucking the slide in some of the market’s largest companies, as investors bet that the Federal Reserve will cut interest rates starting in September — lowering the cost of capital and possibly boosting consumer…
“There’s a very good chance of a 50 basis point rate cut,” Bessent said in the interview. “We could go into a series of rate cuts here, starting with a 50 basis point rate cut in September.” He sees rates needing to fall by 150 to 175 basis points to support the economy. Bessent also…
(Bloomberg) — Global investors dived into the riskiest assets after a benign US inflation report dispelled fears of stagflation and lifted a roadblock for the Federal Reserve to cut interest rates. Stocks jumped to fresh record highs, and small-cap stocks, emerging-markets and semiconductors extended a rally. Measures of implied volatility plunged even as President Donald…
WASHINGTON (Reuters) -Increasing revenues flowing into U.S. government coffers from tariffs would make it difficult for the Supreme Court to rule against the Trump administration on the issue if a lower court case makes its way to country’s top court, U.S. Treasury Secretary Scott Bessent said on Tuesday. “The more money coming in, it gets…
By Leika Kihara TOKYO (Reuters) -U.S. Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone “who can examine the whole organization” as the Fed’s mission has included so many things outside of monetary policy and has put its independence at risk, Japan’s Nikkei newspaper reported. “It’s someone who has to have…
My top 10 things to watch Tuesday, Aug. 5 1. Wall Street was heading for a modestly higher open. Monday’s bounce-back rally after Friday’s weak jobs-driven slump broke a four-session losing streak. Club earnings ahead: Disney is tomorrow morning, with Eli Lilly on Thursday morning and Texas Roadhouse on Thursday night. 2. President Donald Trump…
WASHINGTON (AP) — U.S. and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the U.S. demand that China stop purchasing oil from Iran and Russia. “China will always ensure its energy supply in ways that…