Tag #Scott Bessent

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us.cnn.com

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Mar 25, 01:11

Summers Rejects Bessent's Claim on China Tariff Impact

Former Treasury Secretary Larry Summers criticized current Secretary Scott Bessent's claim that China would bear the brunt of new US tariffs, citing a 38% increase in US steel prices since the start of Trump's second term as evidence that contradicts Bessent's claim; a White House official countered...

Summers Rejects Bessent's Claim on China Tariff Impact

Former Treasury Secretary Larry Summers criticized current Secretary Scott Bessent's claim that China would bear the brunt of new US tariffs, citing a 38% increase in US steel prices since the start of Trump's second term as evidence that contradicts Bessent's claim; a White House official countered...

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How do differing viewpoints on the impact of tariffs reflect broader disagreements on trade policy and economic theory?

The disagreement highlights the significant economic consequences of large-scale tariffs. Summers' argument, supported by the substantial increase in US steel prices (38% higher than pre-Trump election levels), directly contradicts Bessent's claim that Chinese producers will bear the burden. This highlights the potential for substantial price increases for US consumers.

cnn.com

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Jan 28, 01:08

Senate Confirms Scott Bessent as Treasury Secretary

Scott Bessent, a hedge fund manager, was confirmed as Treasury Secretary on Monday by a 68-29 Senate vote, inheriting challenges like the federal debt limit and Trump's tariff policies amidst a US economy with strong growth but above-target inflation.

Senate Confirms Scott Bessent as Treasury Secretary

Scott Bessent, a hedge fund manager, was confirmed as Treasury Secretary on Monday by a 68-29 Senate vote, inheriting challenges like the federal debt limit and Trump's tariff policies amidst a US economy with strong growth but above-target inflation.

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What are the immediate challenges facing the newly confirmed Treasury Secretary, Scott Bessent?

The Senate confirmed Scott Bessent as Treasury Secretary with a 68-29 vote. Bessent, a hedge fund manager, will focus on the federal debt limit, extending the 2017 tax cuts, and managing the economic risks of Trump's tariffs.

forbes.com

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Jan 16, 16:09

Bessent's Treasury Nomination Hearing Highlights Fiscal Conservatism

Hedge fund mogul Scott Bessent, Trump's nominee for Treasury Secretary, will face a confirmation hearing Thursday; his prepared remarks focused on maintaining the dollar's reserve currency status, enacting Trump's tax cuts, and cutting wasteful spending, while omitting mention of tariffs.

Bessent's Treasury Nomination Hearing Highlights Fiscal Conservatism

Hedge fund mogul Scott Bessent, Trump's nominee for Treasury Secretary, will face a confirmation hearing Thursday; his prepared remarks focused on maintaining the dollar's reserve currency status, enacting Trump's tax cuts, and cutting wasteful spending, while omitting mention of tariffs.

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What are the immediate implications of Bessent's nomination for Treasury Secretary on US economic policy?

Scott Bessent, Trump's nominee for Treasury Secretary, will face a confirmation hearing on Thursday. His prepared remarks emphasized maintaining the dollar's reserve currency status, permanently enacting Trump's tax cuts, and cutting wasteful government spending. Notably, he omitted mention of tariffs in his statement.

edition.cnn.com

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Nov 17, 07:01

Musk Endorses Lutnick for Treasury Secretary

The article discusses the competition between Howard Lutnick and Scott Bessent for the position of US Treasury Secretary under the Trump administration, highlighting Elon Musk's public endorsement of Lutnick.

Musk Endorses Lutnick for Treasury Secretary

The article discusses the competition between Howard Lutnick and Scott Bessent for the position of US Treasury Secretary under the Trump administration, highlighting Elon Musk's public endorsement of Lutnick.

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What role did Elon Musk play in shaping the public discourse surrounding the selection of the Treasury Secretary?

While Scott Bessent was initially considered the frontrunner, Musk's endorsement of Lutnick sparked a competition, with key figures in the financial world weighing in on their qualifications and suitability for the role.

theglobeandmail.com

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Jan 28, 07:10

Senate Confirms Scott Bessent as Treasury Secretary

The U.S. Senate confirmed Scott Bessent as Treasury Secretary on Monday in a 68-29 vote, marking a historic appointment as the first openly gay individual in the role; Bessent's priorities include balancing tax cuts, deficit reduction, tariff policy, and increasing domestic oil production.

Senate Confirms Scott Bessent as Treasury Secretary

The U.S. Senate confirmed Scott Bessent as Treasury Secretary on Monday in a 68-29 vote, marking a historic appointment as the first openly gay individual in the role; Bessent's priorities include balancing tax cuts, deficit reduction, tariff policy, and increasing domestic oil production.

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What are the immediate economic implications of Scott Bessent's confirmation as Treasury Secretary?

Scott Bessent, a billionaire investor, was confirmed as Treasury Secretary with bipartisan support (68-29 Senate vote). He faces challenges balancing tax cuts, deficit reduction, and tariff policy to avoid economic harm. His confirmation is historic as he is the first openly gay treasury secretary.

abcnews.go.com

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Jan 16, 22:06

Bessent's Treasury Nomination Faces Scrutiny

President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, testified before the Senate Finance Committee on Thursday, facing questions about his past political donations, tax policies, and potential conflicts of interest. His confirmation will impact the IRS budget and U.S. econom...

Bessent's Treasury Nomination Faces Scrutiny

President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, testified before the Senate Finance Committee on Thursday, facing questions about his past political donations, tax policies, and potential conflicts of interest. His confirmation will impact the IRS budget and U.S. econom...

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How might Bessent's proposed solutions to offset the cost of extending the 2017 tax cuts affect the federal budget and economic policies?

Bessent's confirmation process highlights the complexities of economic policy under the Trump administration. His past support for both Democratic and Republican candidates reflects a pragmatic approach, while his emphasis on supply chain security and the dollar's global role underscores national economic priorities. The potential extension of the 2017 tax cuts, costing trillions, raises concerns about the national debt.

euronews.com

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Jan 16, 13:08

Trump's Treasury Nominee Faces Scrutiny Over Tax Cuts and Global Trade

US Treasury nominee Scott Bessent, a former George Soros employee and Trump advisor, plans to prioritize supply chain security, sanctions, and maintaining the US dollar's global dominance, while facing Senate questioning on taxes, tariffs, trade and potential conflicts of interest; his confirmation ...

Trump's Treasury Nominee Faces Scrutiny Over Tax Cuts and Global Trade

US Treasury nominee Scott Bessent, a former George Soros employee and Trump advisor, plans to prioritize supply chain security, sanctions, and maintaining the US dollar's global dominance, while facing Senate questioning on taxes, tariffs, trade and potential conflicts of interest; his confirmation ...

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How might Bessent's proposed tax cuts and spending plans affect the US national debt and inflation, and what are the potential consequences?

Bessent's nomination reflects Trump's aim to reshape global trade, cut taxes, control inflation, and manage the national debt. Bessent's planned testimony emphasizes productive investment over wasteful spending to combat inflation. His support for extending the 2017 Tax Cuts and Jobs Act, estimated to cost between $6 trillion and $10 trillion over 10 years, will be a focal point, along with his proposals for offsetting costs through spending cuts and tax shifts.

Showing 13 to 19 of 19 results