Scott Bessent - News and Info Tracker

Scott Bessent has moved to consolidate control over tax administration while advancing the administration’s economic agenda. CNN reports that on August 8, President Trump ousted the Internal Revenue Service commissioner and selected Bessent to serve as acting head of the IRS while a permanent replacement is sought. According to CNN, this is a rare step that places the Treasury Secretary in direct operational oversight of the tax agency during a sensitive period for enforcement, refunds, and compliance policy. CNN Editorial Research also notes Bessent’s tenure began January 28 after a 68 to 29 Senate confirmation vote and that he is the first openly gay Treasury secretary and the first openly LGBTQ Senate confirmed Cabinet member in a Republican administration, underscoring the historic context of his current decisions.In parallel, Bloomberg News reports that Bessent has been publicly outlining the administration’s approach on tariffs, deficits, and growth, positioning trade policy and revenue questions as linked levers in the broader economic plan. While access to full details requires a subscription, Bloomberg’s preview indicates Bessent is engaging directly on how tariff strategy intersects with deficit management and the timing of fiscal measures, suggesting that Treasury is coordinating closely with the White House on both revenue resilience and cost of capital considerations.Local and policy focused outlets have tracked Bessent’s agency oversight tour. Gaylord News reports that Bessent is heading to the U.S. Mint, aligning with Treasury’s portfolio responsibilities and likely focusing on coin production, cash logistics, and modernization efforts at a time of persistent coin circulation challenges and evolving payments behavior. This follows a pattern of hands on visits to Treasury bureaus that support the implementation of tax administration and currency operations.Taken together, the recent IRS leadership move reported by CNN, Bessent’s public messaging on tariffs and deficits highlighted by Bloomberg News, and his planned engagement at the U.S. Mint reported by Gaylord News point to a concentrated effort to align tax collection, trade policy revenue impacts, and currency operations under a cohesive Treasury strategy. For listeners tracking day to day decisions, the key signal is Bessent’s temporary stewardship of the IRS, which could accelerate changes in enforcement priorities, modernization initiatives, and taxpayer service benchmarks as the administration refines its fiscal and trade posture.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/3ODvOta

12 Aug 3min

Treasury Secretary Scott Bessent has moved into the center of multiple fast developing economic stories in recent days. According to CNN Editorial Research, President Trump on August eighth removed the Internal Revenue Service commissioner and tapped Bessent to serve as acting head of the IRS while the administration searches for a permanent replacement. CNN notes Bessent remains Treasury Secretary while assuming the IRS role on an acting basis, a rare consolidation that places him over tax policy and tax administration during a volatile period.CBS News Detroit reports the administration is preparing warning letters to countries that have not struck trade deals, signaling that higher tariffs could begin next month. The outlet also reports Bessent said substantial progress was made in talks with Chinese Vice Premier He Lifeng after prolonged weekend negotiations, tying his portfolio to the White House push for leverage ahead of potential tariff escalations.The Associated Press reports Bessent joined President Trump and Commerce Secretary Howard Lutnick in a White House meeting with Intel CEO Lip Bu Tan on Monday, a meeting that preceded the president publicly softening his stance after previously calling for Tan to resign. Intel shares rose in premarket trading after the meeting, according to the AP, highlighting the market sensitivity around semiconductor policy and the administration’s China technology posture.Bloomberg Tax reports Bessent has been central to articulating the administration’s approach to tariffs and deficits, with an interview published August eleventh framing how the White House aims to pair hard tariff deadlines with a broader economic program. While access requires a subscription, the piece underscores Bessent’s role as the administration’s explainer in chief on trade and fiscal direction.AOL Finance reports Bessent is managing blowback over his July comments about new Trump Baby Accounts, which he described at a Breitbart event as in a way a backdoor for privatizing Social Security. He has since walked back the remark on X, saying the accounts are additive and will supplement the sanctity of Social Security’s guaranteed payments, and affirming a commitment to protect seniors. The clarification indicates Treasury’s attempt to keep the initiative separate from broader Social Security debates while it rolls out implementation guidance.For listeners tracking headlines, the throughline is consolidation of tax authority through the acting IRS appointment, tariff brinkmanship with concrete warning letters imminent, direct engagement with China’s economic team, and high profile involvement in semiconductor policy discussions following the Intel meeting. These moves position Bessent as a pivotal actor in trade, taxes, and technology policy as deadlines approach.Thanks for tuning in, and please 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/3ODvOta

12 Aug 3min

Scott Bessent has dominated headlines this week as his role as Secretary of the Treasury becomes increasingly pivotal in the Trump administration’s ongoing trade standoff and economic maneuvering. Appearing on major news programs, Bessent emphasized that countries failing to finalize trade deals with the United States will see their tariffs revert to the higher levels set back in April beginning this August. According to CNN, Bessent outlined that while President Trump’s 90 day tariff truce is expiring, there will be a brief grace period for negotiations but not a new deadline. He indicated that Trump will soon notify key trading partners of the imminent tariff hikes unless progress is made, reinforcing the administration’s tough stance. Only two preliminary trade agreements, with Vietnam and the United Kingdom, are confirmed so far, and efforts continue with China and several other nations.Further heightening tensions, Bessent dismissed coordinated attempts by BRICS countries to counteract new tariffs, telling Fox News that despite the rhetoric, all countries remain eager for U.S. market access. He specifically downplayed the unity of the BRICS bloc, saying their recent meetings were largely symbolic and stating that negotiations with eighteen trading partners have already yielded substantial deals with two thirds. In parallel, leaders in Brazil and India discussed developing a collective response, as Brazil and India each face fifty percent tariffs unless substantial concessions are reached. Bessent remained firm that the U.S. is looking for real progress, not just dialogue.In a separate dramatic development, NBC News and the Vernon Reporter both confirmed that Bessent will temporarily serve as acting Internal Revenue Service Commissioner. This move follows President Trump’s abrupt dismissal of Billy Long, who had served less than two months and marks the sixth leadership change at the IRS this year. With this appointment, Bessent now simultaneously holds two key financial leadership posts.Finally, Reuters reported that Bessent is leading a broad search for the next Federal Reserve Chair to replace Jerome Powell. The expanded list of candidates demonstrates Bessent’s central role as the administration seeks a Fed chief who supports lower interest rates, aligning with ongoing presidential pressure on monetary policy.Bessent’s actions this week underscore not just the intensity of current trade talks and economic policy friction, but his emergence as one of the most influential figures in the administration’s financial and geopolitical strategy. Thanks for tuning in and be 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/3ODvOta

10 Aug 2min

Scott Bessent, the current US Secretary of the Treasury, has dominated headlines over the past several days amid a flurry of new trade policy maneuvers and mounting global tensions. Early this week, Bessent warned that countries that do not finalize trade agreements with the United States will soon revert to pre-negotiation tariff rates, referencing the expiration of a 90-day pause on most tariffs initially announced in the spring by President Trump. According to an interview on CNN, letters outlining new import tax rates are set to be delivered to multiple trading partners, with Bessent arguing that these escalating tariffs are not a new deadline but a return to original policy unless other nations accelerate the pace of negotiations.Despite only clinching two preliminary deals so far—with the United Kingdom and Vietnam—Bessent indicated more agreements are imminent, suggesting that countries will act quickly to avoid the reimposed tariffs. President Trump reinforced Bessent’s stance via his social media platform, clarifying that any nation aligning itself with the BRICS bloc’s anti-American trade policies will face an additional ten percent tariff, with no exceptions.The Trump administration’s approach has drawn criticism from both international leaders and former US officials. This past week, Scott Bessent publicly dismissed joint strategies being discussed by BRICS nations, describing their efforts as performative and reiterating that access to the US market remains highly sought after. However, this rhetoric was met with strong objections. Former US diplomat Evan Feigenbaum labeled the administration’s attitude "strategic arrogance," suggesting that overreliance on US leverage risks damaging trust and future cooperation with key partners.Domestically, Bessent has also been thrust into the spotlight for his involvement in federal leadership changes. Following the abrupt removal of Billy Long as IRS commissioner, Bessent was tapped to serve as acting commissioner according to administration officials, marking another expansion of his influence in federal economic policy decisions.Meanwhile, the Treasury Secretary has become a central figure in the ongoing search for a new Federal Reserve chair. Sources cited by Reuters and the Wall Street Journal confirm Bessent is leading a wide-ranging search, with a list of candidates that includes former Fed officials and economic consultants, some of whom support the administration’s call for lower interest rates. This comes as the administration pushes forward with economic policies that independent economists warn could create more headwinds than benefits, especially as tariffs are forecasted to raise at least three hundred billion dollars in government revenue this year—a burden Treasury Secretary Bessent has explicitly admitted will be borne by Americans.Thank you for tuning in. 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/3ODvOta

10 Aug 3min

Secretary of the Treasury Scott Bessent has been at the forefront of international economic diplomacy this week. On August fourth, Bessent met with German Vice Chancellor and Finance Minister Lars Klingbeil in Washington. Their conversation highlighted President Trump's recent and historic trade agreement between the United States and the European Union. Bessent took the opportunity to publicly thank Minister Klingbeil for Germany's commitment on international tax cooperation, signaling continued American focus on global tax policy standards. Another key topic in the meeting was the situation in Ukraine. Bessent emphasized that securing peace in Ukraine remains a central objective for the Trump administration. He encouraged Germany to sustain strong security and defense collaboration with the United States in the effort to support Ukraine and broader European stability. This dialogue underscores Bessent's role in aligning economic and geopolitical strategy among Western allies, amid ongoing challenges in Eastern Europe and evolving transatlantic economics, as noted in a press release on the Treasury Department website.In domestic news, President Donald Trump clarified this Tuesday that Scott Bessent will not be considered for the role of Federal Reserve chair, putting an end to weeks of speculation about Bessent’s possible appointment to lead the central bank. In a CNBC interview, Trump explained that he personally asked Bessent if he wanted the Federal Reserve role, but Bessent reaffirmed his commitment to his current Treasury position. Trump emphasized that Bessent would remain in his current cabinet post, solidifying his status as a key figure in shaping White House economic and trade policy. Bessent, a prominent former hedge fund chief before taking the Treasury role, has become a leading advocate within the administration, particularly championing Trump’s agenda and voicing open criticism of the Federal Reserve’s cautious stance on interest rate cuts. The current Fed chair, Jerome Powell, will see his term end in May twenty twenty six, and while the administration has often expressed frustration with Powell, Trump’s latest decision keeps Bessent at Treasury during a pivotal period for fiscal policy.Listeners, this has been a highly active period for Scott Bessent as he navigates critical roles in both domestic monetary debates and international diplomacy. Thank you for tuning in and do not forget 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/3ODvOta

5 Aug 2min

In the latest developments surrounding US Treasury Secretary Scott Bessent, President Donald Trump confirmed Tuesday that Bessent will be staying put in his current role and will not be considered for the Federal Reserve chair position. The announcement, shared by Trump in a CNBC interview, comes after weeks of speculation about whether Bessent, a former hedge fund chief and now a prominent supporter of Trump’s economic policies, would replace Jerome Powell as Fed chair when Powell’s term expires in 2026. Trump stated that he asked Bessent directly if he wanted the job, to which Bessent responded that he preferred to remain Secretary of the Treasury. According to Fortune, Bessent explained that he plans to “go where the president thinks that I am best suited,” but made it clear that his current priorities lie with the Department of the Treasury and not the Federal Reserve. The clarification has quieted ongoing rumors and allowed the White House to focus on other candidates for the upcoming vacancy at the nation’s central bank.Meanwhile, Scott Bessent has continued engaging in global economic diplomacy. According to an official Treasury readout, Bessent met on August 4 with German Vice Chancellor and Finance Minister Lars Klingbeil to discuss ongoing US-German financial cooperation. The meeting emphasized coordination on international sanctions enforcement, global financial stability, and collaborative policy approaches to the evolving economic landscape. This bridge-building effort comes at a time when Treasury leadership is critical in navigating ongoing inflation management and international supply chain challenges.These developments underscore Bessent’s influence as a key player in the Trump administration’s economic strategy. He has earned a reputation for publicly defending administration policies, particularly regarding trade and interest rates, and remains a central voice as Washington manages tensions with both the Federal Reserve and major European allies. With the upcoming decision on the next Fed chair and increasing global economic uncertainties, Bessent’s continued stewardship at the Treasury is likely to have a significant impact on US monetary and fiscal policy in the weeks ahead.Thank you for tuning in and 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/3ODvOta

5 Aug 2min

Scott Bessent was officially sworn in this week as the seventy ninth Secretary of the Treasury and has quickly made headlines with a series of bold policy moves and public statements. The most prominent story centers on his remarks regarding the new Trump savings accounts for newborns, an initiative now central to the administration's economic messaging. In an interview with Breitbart, Bessent suggested that these accounts, which deposit one thousand dollars into a tax deferred index fund for each newborn, could eventually act as a back door for privatizing Social Security. This sparked immediate backlash from leading Democrats including Senate Minority Leader Chuck Schumer, who accused the administration of undermining the foundational safety net for seniors. Bessent later clarified on social media that the Trump Baby Accounts are intended as an additive benefit, not a replacement for Social Security payments, reiterating the administration’s commitment to preserving the program according to reporting by AOL and Morningstar.Beyond the Social Security controversy, Bessent has voiced strong support for emerging financial technologies. He declared that the United States is now entering a golden age of cryptocurrency, calling on businesses to accelerate blockchain and digital infrastructure projects within the country. Outlets such as Coinpaper and AInvest report that Bessent sees blockchain as a tool for economic growth and global competitiveness. Under his leadership, the Treasury is actively encouraging investment and hiring in the digital currency sector and promoting regulatory frameworks favorable to blockchain ventures.Bessent is also navigating complex international negotiations, most recently revealing details about ongoing talks between the United States, China, and Sweden, as covered by Dimsumdaily and other outlets. These discussions are expected to impact global supply chains and currency policies, especially as the administration signals a new approach to tariffs and trade. Financial analysts note that Bessent is a proponent of fiscal restraint and a weaker dollar, which would mark a shift from recent Treasury strategies and could have significant effects on global markets.His early weeks in office have been marked by both controversy and rapid policy activity, as markets and lawmakers alike seek clarity on his long term monetary agenda and how these new initiatives will reshape the American financial landscape. Listeners are encouraged to stay tuned for more updates as Bessent continues to set an ambitious, and occasionally contentious, tone as Secretary of the Treasury. Thank you for tuning in and 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/3ODvOta

3 Aug 2min

Scott Bessent, just sworn in as the seventy ninth Secretary of the Treasury, has been at the center of several major stories this week. He made headlines after remarks in a Breitbart interview where he suggested the administration's new Trump Savings Accounts for newborns might be a back door to privatizing Social Security. These accounts, which were passed by congressional Republicans, provide an initial one thousand dollar investment for each newborn, with additional contributions allowed up to five thousand dollars each year. Bessent highlighted the importance of financial literacy and described the accounts as a way to supplement future security for young Americans. The comments caused immediate political backlash, prompting Bessent to issue a public clarification, assuring that the administration is committed to protecting Social Security while also supporting opportunities for Americans to save more for their futures. Senator Chuck Schumer led criticism from the Democrats, arguing that the administration’s actions signal a real threat to Social Security’s traditional structure according to coverage by AOL and MarketWatch.In another key story, Bessent faced tough questions before the Senate regarding the rapid rollout of tariffs under what some have termed Trumponomics version two. Markets and lawmakers are watching closely for clarity on how new tariffs on Canadian and Mexican imports, which have already been announced, will impact both domestic prices and international relationships. A Senate hearing scheduled this week is expected to address these concerns and may set the tone for the administration’s economic policy going forward, as noted by AOL Finance and Wikipedia’s summary of current trade disputes.On the international front, Dimsumdaily and Reuters report that Bessent discussed ongoing multiparty negotiations involving the United States, China, and Sweden. He stated publicly that there are promising signs toward new trade agreements with China, pointing out that both sides have the makings of a deal. He framed these talks as part of a larger strategy to secure American economic interests while navigating a complex global landscape.Perhaps most notably for technology and business leaders, Bessent declared that the United States is entering what he calls the Golden Age of Cryptocurrency. According to Coinpaper and Ainvest, he is championing greater investment in blockchain technology and urging businesses to pursue blockchain projects on American soil. He emphasized that under the Trump administration, the federal government is seeking to unlock the full potential of decentralized financial systems, signaling a significant policy shift aimed at making the U S a global crypto leader.Thank you for tuning in and 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/3ODvOta

3 Aug 2min