Treasury Secretary's Bold Move: Approving $20B Rescue Package for Argentina's Peso

Scott Bessent is quickly reshaping the agenda at the United States Department of the Treasury, and the past few days have highlighted just how aggressively he is moving as Secretary of the Treasury.According to the official Treasury press releases, Scott Bessent was recently sworn in as the seventy ninth Secretary of the Treasury, and he is already putting his stamp on financial regulation, national security, and consumer protection. One of his most talked about moves is a push to loosen what he views as excessive financial regulation in order to unlock more credit for businesses and households. In a recent appearance covered by Fox Business, Bessent described a major deregulatory overhaul aimed at freeing up what he said could be trillions of dollars in new lending capacity across the economy. He argued that capital rules and compliance burdens imposed after the global financial crisis have gone too far, and that a more streamlined framework could support faster growth without sacrificing core safeguards.In another Fox Business interview, Bessent reacted sharply to a recent Supreme Court decision on tariffs. He warned that the ruling, which limits some aspects of executive branch authority over trade restrictions, could weaken the United States bargaining power and create vulnerabilities in a period of intense global competition. Bessent framed tariffs as a critical national security tool as well as an economic one, and suggested the administration and Congress may need to respond with new legislation to preserve flexibility in dealing with strategic rivals.On the home front, the Treasury press office reports that under Bessents direction, the department has issued its annual cybersecurity and holiday scam advisory, warning listeners about sophisticated frauds that target online shoppers, digital wallets, and peer to peer payment apps. Bessent has emphasized that expanded credit and lighter regulation must be matched with robust protections against cybercrime and financial fraud, especially during the peak shopping season.Treasury also announced final rules implementing the Tribal General Welfare Exclusion Act and clarifying the treatment of entities wholly owned by Indian tribal governments. Bessent has highlighted this as part of a broader effort to provide more certainty and fairness for tribal nations in the tax system, reducing red tape around benefits and community programs while respecting tribal sovereignty.Together, these moves paint a picture of a Secretary focused on faster growth, strong national tools on trade, and targeted consumer and tribal protections, all while signaling that the era of ever tighter financial regulation may be reversing.Thank you for tuning in, and please remember to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

16 Joulu 2min

Scott Bessent has had a busy few days as United States Secretary of the Treasury, with several major moves that could reshape both domestic finance and international tax policy.According to the United States Treasury Department, Bessent used his December remarks before the Financial Stability Oversight Council to press for what he called a more growth focused approach to regulation. He argued that post crisis rules have constrained lending and that recalibrating capital and liquidity requirements could safely expand credit to households and businesses. He also emphasized monitoring risks from private credit funds and digital assets, but warned against what he described as regulating innovation out of existence.Fox Business reports that in a recent television appearance, Bessent outlined a sweeping deregulatory overhaul aimed at unlocking trillions of dollars in credit. He discussed easing certain banking and capital markets rules, encouraging securitization, and streamlining approvals for infrastructure and energy projects that rely on private financing. He framed the effort as a way to boost long term growth and help small and midsize companies that struggle to access capital.On the international front, International Tax Review notes that Bessent has been pushing hard in talks over the Organization for Economic Cooperation and Development global minimum tax, known as pillar two. In a post on the social platform X and in closed door meetings, he has urged skeptical countries to accept what Treasury calls a side by side approach that would reconcile the United States tax system with the Organisation for Economic Co operation and Development framework. He has argued that a deal completed this week would reduce uncertainty for multinational companies and prevent new digital services taxes that could hit large United States technology and consumer firms.At the same time, Bessent has been sounding alarms about trade policy. In another Fox Business interview, he warned that a recent Supreme Court ruling limiting presidential authority over tariffs could, in his view, weaken a key tool of United States economic statecraft. He suggested Congress may need to rewrite tariff statutes to preserve the governments ability to respond quickly to unfair trade practices and national security threats.Taken together, these developments show Bessent trying to balance an aggressive pro growth, pro deregulation agenda at home with complex negotiations and legal questions abroad, from global tax rules to the future of United States tariff power.Thank you for tuning in, and make sure to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

16 Joulu 2min

Scott Bessent, the United States Treasury Secretary, is pushing for a key international tax agreement. According to International Tax Review, he urged countries opposing the United States and Organization for Economic Cooperation and Development side-by-side pillar two arrangement to join the consensus and finalize a deal this week. Pillar two aims to ensure large multinational companies pay a minimum fifteen percent tax globally.Fox Business reports that Bessent is advocating a major deregulatory overhaul. He wants to unlock trillions of dollars in credit by easing financial rules, as stated in a recent video interview. This move supports President Trump's economic agenda.Bessent also issued a warning on trade policy. Fox Business notes he told Mornings with Maria that a Supreme Court ruling on tariffs could risk national security. He stressed the need for strong tariff measures to protect American interests.On the official Treasury website, Bessent spoke before the Financial Stability Oversight Council on December eleventh. He addressed risks to the banking system and outlined steps for stability amid market changes.These actions highlight Bessent's focus on tax reform, deregulation, and safeguarding United States economic security in his early days as Treasury Secretary.Thank you for tuning in, listeners. Please subscribe for more updates. This has been a Quiet Please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

16 Joulu 1min

Scott Bessent has had a busy stretch as Secretary of the Treasury, with two major storylines emerging in the past few days that listeners should know about.First, Bessent is moving aggressively on financial crime and terrorism financing. Alpha News reports that on December twelfth he announced new enhanced reporting requirements for certain money transfer businesses that send funds to high risk regions such as Somalia. According to that report, the Treasury Department and the Internal Revenue Service will issue notices of investigations to some money service businesses, bringing them under closer scrutiny for potential welfare fraud, money laundering, and possible links to terrorist groups. Bessent said Treasury personnel are already on the ground in Minnesota as part of a broader federal probe into allegations that fraudulent welfare payments were routed through informal transfer networks and that terrorists in Somalia may have taken a cut of those funds. He emphasized that under President Donald Trump the department intends to fully investigate, analyze, and permanently shut down what he called a massive fraud ring.At the same time, Bessent is at the center of a very different kind of money story that could hit listeners wallets in a positive way early next year. Fox Business and the Economic Times both report that he is forecasting what he calls very large tax refunds for American households in the upcoming filing season. In an interview with NBC Ten Philadelphia, cited by Fox Business, Bessent explained that changes in the One Big Beautiful Bill Act, passed in July, included retroactive tax relief that most workers did not adjust their paycheck withholding for. As a result, he expects total refunds of roughly one hundred billion to one hundred fifty billion dollars, which he estimated could translate to about one thousand to two thousand dollars per household when those refunds go out in early twenty twenty six. The Economic Times notes that this surge in refunds is being likened by some observers to a kind of de facto stimulus, arriving at a time when many families are still strained by higher prices for housing, groceries, and health care.Bessent has linked these tax changes to a broader Trump administration effort to extend the earlier twenty seventeen tax cuts, avoid an automatic tax hike in twenty twenty six, and support consumer spending going into the new year. Taken together, his recent moves show a dual focus on tightening the net around illicit financial flows while loosening the tax burden on working households.Thank you for tuning in, and remember to subscribe so you never miss an update. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

14 Joulu 2min

Listeners, Scott Bessent has been in the headlines over the past few days for two big moves as Secretary of the Treasury, one focused on cracking down on suspected fraud and terror finance links, and another centered on promising unusually large tax refunds for American households next year.According to Alpha News and a report originally published by The Epoch Times, Bessent announced on December twelfth that the Treasury Department will impose what he called enhanced reporting requirements on certain money transfer businesses that send funds to high risk regions such as Somalia. He said some money service firms will also receive formal notices of investigations, with Internal Revenue Service teams brought in to scrutinize flows that may be tied to what he has described as a massive welfare fraud ring based in Minnesota. That probe was launched after City Journal published an investigation alleging that Minnesota taxpayer funded welfare fraud was helping finance the extremist group Al Shabaab. Bessent has emphasized that under President Donald Trump the Treasury will use geographic targeting orders to force more detailed reporting from money transmitters in specific locations, funneling that information to the Financial Crimes Enforcement Network and then to law enforcement to pursue potential money laundering and terror finance networks.At the same time, Bessent has been making news on the domestic tax front. In an interview highlighted by Fox Business and also covered by outlets such as AOL and The Economic Times, he said American households should expect what he called very large refunds in the tax filing season early next year, thanks to the One Big Beautiful Bill Act, a recent Trump backed tax law. Because the law was passed in July and included retroactive tax relief, many workers did not adjust their paycheck withholding. Bessent projected that total refunds could reach one hundred billion to one hundred fifty billion dollars, which he estimated could translate into roughly one thousand to two thousand dollars per household. He also pointed out that once workers do change their withholding, they should feel a more permanent boost in take home pay in twenty twenty six. The law also extends lower tax rates and higher standard deductions that were set to expire, preventing what would have been a broad tax hike.These two stories together show Bessent trying to balance aggressive enforcement on suspected fraud and terror linked money flows, while simultaneously selling a message of tax relief and higher disposable income for working Americans.Thank you for tuning in, and make sure to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

14 Joulu 2min

Scott Bessent has quickly become one of the most scrutinized figures in Washington as he settles into his role as Secretary of the Treasury under President Donald Trump. In the last few days, public attention has zeroed in on a controversial set of decisions tying together farm policy, trade tensions, and an aggressive intervention in foreign currency markets.According to a December statement from Congressman David Scott of Georgia, the Trump administration has moved forward with a twelve billion dollar farm aid package aimed at easing the damage from tariffs and the ongoing trade war. Scott argues that farmers are suffering billions in losses due to these policies and that the aid package falls far short of what is needed to offset the long term harm to American agriculture. He criticizes the administration for offering what he calls short term relief instead of reversing the underlying trade measures that are hurting producers.What has drawn even sharper scrutiny to Secretary Bessent is the timing and scale of a separate decision. Congressman Scott notes that this twelve billion dollar package followed close on the heels of a forty billion dollar commitment by the Trump administration to help backstop Argentinas collapsing currency, a move coordinated through the Treasury Department under Bessents watch. Scott warns that this exposes United States taxpayers to what he terms extraordinary risk, especially when farmers at home are being asked to get by with far less support.In October, Scott sent a formal letter directly to Treasury Secretary Scott Bessent questioning the rationale and safeguards around the Argentina support package. He argued that the administrations trade war has already pushed global buyers to shift away from American farm products and toward competitors like Argentina. From his perspective, the combination of tariffs at home and financial lifelines abroad sends a troubling message about priorities.So far, the Treasury Department has not publicly reversed course on either the Argentina commitment or the farm aid structure, and listeners can expect continuing debate in Congress over whether Bessents approach adequately protects domestic producers while managing global financial risks. The clash between trade policy, farm stability, and international rescue efforts is likely to define much of the early narrative around his tenure as Secretary of the Treasury.Thank you for tuning in, and remember to subscribe so you never miss an update. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

11 Joulu 2min

Scott Bessent has been back in the spotlight in recent days as he works to define the Trump administrations economic message while confronting political and legal storms around federal money.In an interview on the Sunday program Face the Nation, highlighted by Fox Business and WTHR, the Treasury Secretary said the United States is on track to finish the year with roughly three percent real gross domestic product growth, despite a turbulent year marked by new tariffs, a government shutdown, and shifts in immigration policy. He pointed to strong consumer spending during the holiday season and noted that several quarters have already shown around four percent growth. At the same time, he acknowledged what he called an affordability problem, arguing that inflation has come down from its peak but many families still feel squeezed by higher prices.According to Fox Business, Bessent defended the administrations record by saying that real incomes are up slightly and that the goal for next year is to move from affordability concerns toward renewed prosperity. He repeated his claim that the Biden administration was responsible for the worst inflation in fifty years for working Americans, while insisting that current policy has helped pull inflation down from its previous highs.Bessent has also been drawn into a politically charged fraud scandal in Minnesota. The National News Desk reports that he used his Face the Nation appearance to detail a Treasury Department investigation into more than one billion dollars in alleged pandemic era and state level fraud, including the Feeding Our Future case that prosecutors have called one of the largest pandemic frauds in United States history. Bessent said Treasury is tracking whether diverted funds were sent overseas to the Middle East and Somalia, and whether any of that money may have reached terrorist organizations.His comments sparked a sharp exchange with Minnesota Representative Ilhan Omar. According to coverage from The National News Desk, Bessent accused Omar of gaslighting the American people about the seriousness of the allegations. Omar responded that if stolen funds were tied to terrorism, that would represent a failure of the Federal Bureau of Investigation, not her own conduct, and noted that her campaign has returned donations from individuals charged in the Feeding Our Future case. The House Oversight Committee, led by Chairman James Comer, has opened its own inquiry into how state officials handled whistleblower warnings.Together, these developments show Bessent trying to balance a confident economic narrative with an aggressive posture on financial enforcement and political accountability.Thank you for tuning in, and be sure to subscribe so you do not miss the next update. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

9 Joulu 2min

Treasury Secretary Scott Bessent continues to establish himself as the defining economic figure of the Trump administration, making headlines across multiple fronts this week.On Sunday, Bessent appeared on CBS News Face the Nation where he predicted the United States will finish 2025 with three percent real GDP growth despite economic headwinds from tariffs and immigration policy changes. He noted that the economy has performed better than expected, with the country seeing four percent GDP growth in a couple of quarters. This projection comes despite a rocky start to the year that saw a contraction in the first quarter, followed by a strong rebound in the second quarter.When pressed about inflation concerns and polling showing Americans disapprove of the administration's handling of the economy, Bessent acknowledged that affordability remains a challenge. However, he separated the issue into two components, pointing out that while inflation occurred during the Biden administration, real incomes have risen about one percent. He indicated the administration plans to move toward prosperity in the coming year.Bessent also used his Sunday appearance to discuss a significant fraud investigation involving Minnesota. He revealed that the Treasury Department is investigating whether taxpayer money connected to massive fraud schemes totaling over one billion dollars may have been funneled to terrorist organizations linked to Somalia. Bessent stated that tracked money has gone overseas to both the Middle East and Somalia. This escalated into a public clash with Democratic Representative Ilhan Omar of Minnesota, who pushed back on suggestions of terrorism connections, arguing that any such linkage would be the responsibility of the FBI rather than the Treasury Department.The fraud investigation, which dates back to 2022, includes nearly three hundred million dollars stolen from the nonprofit organization Feeding Our Future. Omar acknowledged that people involved in the scheme had donated to her campaign but stated those donations have been returned.Beyond these recent comments, Bessent has solidified his position as perhaps the most influential economic figure in Trump's circle. His background as a hedge fund manager and former chief investment officer at Soros Fund Management has given him credibility both on Wall Street and within the administration. He has played significant roles in managing tariff announcements, stabilizing Treasury markets, and shaping broader economic policy direction.Thank you for tuning in to this economic update. Be sure to subscribe for more coverage of Treasury Department activities and economic policy decisions. This has been a Quiet Please production. For more, check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

9 Joulu 2min