Newly Confirmed Treasury Secretary Scott Bessent Aligns with Trump's Economic Agenda

Treasury Secretary Scott Bessent is making headlines this week with a significant investigation into potential fraud involving federal tax dollars in Minnesota. Bessent announced that his office is launching a probe to determine whether taxpayer money was diverted to the terrorist organization Al-Shabaab under the Walz administration. In a post on X, Bessent stated that thanks to President Trump's leadership, they are acting fast to ensure Americans' taxes are not funding acts of global terror.The allegations stem from reports indicating that portions of money taken from Minnesota's Medicaid and social service programs were routed overseas to Somalia, where Al-Shabaab operates as an al-Qaeda-linked terrorist group. Minnesota Governor Tim Walz expressed openness to an investigation if such a connection existed. The U.S. Attorney's Office in Minnesota has already charged dozens of defendants across multiple fraud schemes, including housing assistance fraud, pandemic child nutrition fraud, and false billing for autism therapy, with prosecutors estimating taxpayers have lost billions collectively.Beyond the Minnesota investigation, Bessent has also found himself addressing questions about President Trump's proposed tariff dividend. When Trump announced on social media that tariffs would generate enough revenue to pay at least two thousand dollars per person to Americans, Bessent appeared caught off guard. During an appearance on ABC's This Week, he indicated he had not discussed the dividend plan with Trump and suggested it might not result in direct government checks. Instead, he proposed the rebate could take the form of tax cuts. He later indicated the payments, if they occur, would target individuals and families making one hundred thousand dollars or less annually.Budget experts and policy analysts have expressed skepticism about the tariff dividend proposal, noting that the numbers do not add up mathematically. The Trump administration has faced criticism over similar proposals in the past, including the DOGE dividend checks tied to billionaire Elon Musk's proposed budget cuts. Meanwhile, the Supreme Court recently heard arguments questioning the legality of Trump's sweeping global tariffs, which place rates sometimes exceeding one hundred percent on goods from nearly every country.Bessent's tenure as Treasury Secretary is shaping up to involve significant financial oversight challenges, from investigating potential fraud schemes to managing expectations around controversial revenue proposals and defending the administration's trade policies.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

2 Dec 2min

Treasury Secretary Scott Bessent is launching a significant investigation into potential fraud involving Minnesota state tax dollars. The Treasury Department is examining whether funds from Minnesota's Medicaid and social service programs were diverted to the terrorist organization Al-Shabaab, an al-Qaeda-linked group operating in Somalia.Bessent announced the investigation through social media, stating that the administration is acting quickly to ensure American tax dollars are not funding acts of global terror. The allegations emerged from a report by the City Journal, which detailed how portions of money taken from Minnesota programs may have been routed overseas to Somalia, potentially connecting to Al-Shabaab operations.Minnesota Governor Tim Walz responded to the investigation by telling Fox News Digital that he would be open to an investigation if there was any connection between Minnesota tax dollars and the terrorist organization. However, Walz has also characterized the focus on Somali Americans as unfair, pushing back against broader claims linking the Somali population to financial crimes.The investigation comes amid a broader crackdown on fraud in Minnesota. The U.S. Attorney's Office in Minnesota has already charged dozens of defendants across multiple schemes, including housing assistance fraud, pandemic child nutrition fraud, and millions of dollars in false billing for autism therapy services. Prosecutors estimate that taxpayers have lost billions of dollars through these various fraud schemes.President Donald Trump has made Minnesota's situation a focal point of recent criticism, specifically targeting the state's Somali population. Trump stated to reporters that Somalis have caused significant problems for the state and that tremendous amounts of money are being sent back to Somalia, questioning why the U.S. pays money to Somalia at all.This investigation represents one of Bessent's first major actions as Treasury Secretary, signaling a focus on preventing tax dollars from potentially funding terrorist organizations. The Treasury Department's involvement indicates the seriousness with which the administration is treating these allegations and the broader fraud concerns in Minnesota.Thank you for tuning in. Be sure to subscribe for the latest updates on Treasury Department actions and financial policy. 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

2 Dec 2min

Treasury Secretary Scott Bessent has been making significant policy announcements over the past few days that reflect the Trump administration's priorities on immigration, financial system access, and economic support.On Friday, November 28th, Bessent announced a major crackdown on federal benefits for undocumented immigrants. The Treasury Department will issue proposed regulations to cut off refunded portions of several key tax credits including the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit, and the Saver's Match Credit for individuals in the country illegally. Bessent emphasized that these benefits should be preserved exclusively for United States citizens, stating that illegal aliens have no place in the American financial system. He also announced efforts to prevent undocumented immigrants from using financial institutions to move funds, calling such activity exploitation that will end.These announcements came in response to President Trump's Thanksgiving declaration to pause migration from third world countries and his promise to end all federal benefits and subsidies to noncitizens. Trump cited census data indicating the United States hosts a foreign population of 53 million people.Beyond immigration policy, Bessent has been involved in broader economic initiatives. The Treasury Secretary has been leading the interview process for candidates to lead the Federal Reserve, with the president set to meet with finalists soon. Additionally, Bessent has announced plans to prioritize digital assets within the administration's financial policy framework.On the domestic front, Bessent has promoted proposed two thousand dollar tariff checks aimed at working families as part of the administration's affordability agenda. He has credited the president's deregulation and pro private sector policies for lowering inflation and raising real incomes. The administration has highlighted selective economic wins, including an eighty six percent drop in egg prices and nearly fourteen percent reduction in housing costs since Trump took office.The Treasury Secretary also played a central role in a controversial currency support package for Argentina. In September, Bessent publicly promised Argentina large and forceful American support, followed by Treasury announcements of a twenty billion dollar currency swap and subsequent additional support totaling up to forty billion dollars. These actions occurred as Argentina faced political challenges, with President Javier Milei's party trailing in elections. Trump explicitly tied the bailout to Argentina's electoral outcome, stating if Milei won, the United States would stay with him, otherwise they would be gone. After the October election, Milei's party won decisively, raising questions about the relationship between the financial support and electoral intervention.Thank you for tuning in. Please remember to subscribe for more updates on Treasury policy and economic news. 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

30 Nov 3min

Treasury Secretary Scott Bessent has been making significant moves in recent days that are shaping American financial policy and international relations. Over the past week, Bessent confirmed that legislation would be required for the proposed two thousand dollar direct deposit payments to U.S. citizens, stating during a Fox News interview on November sixteenth that no bill authorizing such payments has yet been introduced in Congress.In a major international development, Bessent announced a substantial financial package for Argentina totaling forty billion dollars in support. On September twenty-second, he publicly promised Argentina large and forceful American support, and one week later the Treasury announced a twenty billion dollar currency swap financed through America's Exchange Stabilization Fund. This swap allowed Argentina to make its November first IMF debt payment. The Treasury subsequently spent four hundred million dollars propping up the Argentine peso, and on October fourteenth, Bessent announced plans for an additional twenty billion dollar private debt facility.The timing of this intervention proved significant for Argentina's October twenty-sixth congressional elections, which Bessent's support helped influence. Milei's coalition won decisively with forty-one percent of the vote versus thirty-one percent for the opposition, and in Buenos Aires province, where libertarians had lost by thirteen points in September, they won by a half point. President Trump explicitly tied the bailout to Argentina's election outcome, stating that if Milei won, America would stay with him, and if not, they would be gone.The intervention also served geopolitical purposes. Argentina controls the world's second largest lithium reserves, which are critical for electric vehicle batteries and defense systems. The Treasury's forty billion dollar package came with conditions requiring Argentina to exclude China from ports and military installations and potentially replace its eighteen billion yuan swap line with U.S. support.Additionally, Bessent announced his agency's crackdown on undocumented migrants receiving federal tax benefits. He has also promoted the proposed two thousand dollar tariff checks, explaining that these would be aimed at working families as part of the Trump administration's economic policy.Bessent's recent actions demonstrate an aggressive Treasury strategy combining domestic economic initiatives, international financial intervention, and geopolitical positioning against China. His use of the Exchange Stabilization Fund represents an unprecedented application of this mechanism for directly influencing electoral outcomes in sovereign nations.Thank you 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/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

30 Nov 2min

Treasury Secretary Scott Bessent has been actively shaping major economic policy decisions this week as President Trump's administration moves forward on multiple fronts. Most notably, Bessent completed a crucial second round of interviews on Tuesday for the next Federal Reserve Chair, narrowing the field down to five strong candidates from an initial group of eleven. Bessent told CNBC that there is a good chance President Trump will announce his selection before Christmas, with the current term of Federal Reserve Chair Jerome Powell set to expire in May 2026.The five finalists being considered include White House economic adviser Kevin Hassett, who is seen by allies and advisers as the frontrunner. Other candidates include former Federal Reserve Governor Kevin Warsh, current Federal Reserve Governors Christopher Waller and Michelle Bowman, who also serves as vice chair for supervision, and Rick Rieder, who is BlackRock's chief investment officer for global fixed income. Bessent has emphasized that he wants to see candidates who are forward-looking rather than backward-looking on regulation. Christopher Waller recently met with Bessent and described the conversation as focused on economics rather than politics, while noting that the administration is seeking someone with merit, experience, and strong knowledge of the job.In trade matters, Bessent indicated on Tuesday that Chinese purchases of American soybeans are proceeding on schedule, citing an existing agreement between the two nations. This statement came following discussions between Presidents Trump and Xi, suggesting ongoing negotiations in trade relationships despite recent tensions.Looking ahead, Bessent will attend Supreme Court oral arguments regarding President Trump's sweeping tariffs, demonstrating the Treasury Department's direct involvement in defending the administration's trade policies at the highest legal level. The Treasury Secretary has also positioned himself as a key figure in the administration's deregulatory efforts in financial services.Bessent became Treasury Secretary effective January 27, 2025, and continues to play a central role in shaping economic policy across multiple domains including monetary policy selection, international trade, and financial regulation.Thank you for tuning in to this economic update. Be sure to subscribe for more news about Treasury Secretary Bessent and other financial policy developments. 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

27 Nov 2min

Treasury Secretary Scott Bessent has been heavily focused on selecting the next Federal Reserve chairman as the search enters its final phase. Over the past week, Bessent completed a second round of interviews with five leading candidates to succeed Jerome Powell, whose term expires in May 2026.The five finalists under consideration include White House National Economic Council Director Kevin Hassett, former Federal Reserve Governor Kevin Warsh, current Federal Reserve Governor Christopher Waller, current Federal Reserve Governor and Vice Chair for Supervision Michelle Bowman, and BlackRock Global Fixed Income Chief Investment Officer Rick Rieder. According to reports from multiple financial news outlets, Hassett has emerged as the frontrunner among Trump's advisors and allies, though the White House has dismissed such speculation as premature.Bessent indicated on Tuesday that he expects President Trump to announce his decision before Christmas. The Treasury secretary has been conducting these interviews since Labor Day and has emphasized his preference for candidates who are forward-looking on regulation rather than backward-looking. When meeting with Christopher Waller on Monday, Bessent reportedly had what both described as a great meeting focused entirely on economics rather than politics.The selection of Powell's successor represents a significant opportunity for Trump to install a Federal Reserve leader more aligned with his preference for lower interest rates. Trump has been consistently critical of Powell's approach to monetary policy during Powell's tenure. Christopher Waller has called for rate cuts, which aligns with Trump's economic agenda, while Kevin Hassett has similarly advocated for lower interest rates during the current administration.Bessent has also been preparing for Supreme Court oral arguments regarding President Trump's sweeping tariffs, signaling his active involvement in multiple major policy areas beyond the Fed chair selection process.The prediction markets have closely tracked this race, with betting platforms showing a competitive contest between Hassett and Waller, though odds have recently shifted in Hassett's favor following Bloomberg's reporting on his frontrunner status.Thank you for tuning in to this news update. Be sure to subscribe for more information on Treasury Secretary Scott Bessent and other financial policy developments. 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

27 Nov 2min

Treasury Secretary Scott Bessent has remained at the center of economic news over the past few days with several direct statements and policy moves that impact both American families and global markets. Over the weekend, Secretary Bessent appeared on NBC’s Meet the Press, where he addressed ongoing inflation concerns and defended the Trump administration’s economic strategy. According to The Street, Bessent remarked that inflation has been slowed compared to previous years, though he faced pointed questions about rising prices of staples such as coffee, bananas, and bacon. He pledged to avoid the missteps of previous administrations by recognizing the hardships Americans feel and promised that the Treasury is working to push down prices where possible.Bessent stated that while inflation on imported goods has remained largely flat, services account for the majority of elevated pricing, and the administration is targeting food staples for relief. Over the last ten days, President Trump issued executive orders lowering tariffs on key Brazilian agricultural products, including coffee, to help curb inflation. Beef and tomatoes were also singled out, with new exemptions designed to make grocery staples more affordable ahead of the holiday season.Adding to the week’s headlines, Bessent also confirmed in a CNBC interview that President Trump is likely to announce his nominee for the next Federal Reserve chair before Christmas. Reuters and Stocktwits noted that the current Fed chair Jerome Powell’s term ends in May, and Bessent revealed that Trump had interviewed five strong candidates, with the decision expected soon. The upcoming nomination is viewed as a critical moment that could influence monetary policy and investor confidence.Bessent explained that U.S. and Chinese leadership have scheduled four major meetings for 2026, starting with Trump’s planned state visit to Beijing. On that note, Bessent highlighted steady Chinese purchases of U.S. soybeans, which are on track for nearly ninety million metric tons over the next three years. He described the planned engagements between Trump and President Xi Jinping as providing stability for both economies during a time of global uncertainty.Treasury data released in recent days continues to show stubborn inflation, with prices three percent higher in September compared to the previous year, and cumulative costs for Americans significantly up since 2021. Bessent’s sector-by-sector breakdown concluded that service industries, rather than tariffs, are the principal force behind ongoing price pressures.Investors have responded to Bessent’s comments with cautious optimism. SPDR S and P 500 ETF and other major indices saw mild gains in pre-market trading as his confidence in the administration’s strategies helped to bolster sentiment.Listeners can expect more developments in the coming week as fiscal developments, tariff adjustments, and the anticipated announcement of the new Federal Reserve chair remain in the spotlight.Thank you for tuning in and be sure to subscribe. This has been a quiet please production, for more check out quiet please dot aiFor 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

25 Nov 3min

United States Treasury Secretary Scott Bessent has been front and center in national economic news over the past week. After the historic forty three day government shutdown, Bessent stated in an interview on NBC’s Meet the Press that the shutdown left a permanent eleven billion dollar hit on the United States economy. Despite this, he expressed strong optimism for growth in twenty twenty six, noting easing interest rates, future tax cuts, and a decline in energy prices as reasons for a non inflationary growth outlook. Bessent also pointed out that although interest rate sensitive sectors like housing have been in recession, he does not foresee the whole economy entering negative growth. Energy prices dropped in October and home sales picked up, developments Bessent attributed to the administration’s continued efforts to cool inflation, which currently stands at three percent. He has emphasized that inflation is notably higher in states controlled by Democrats, blaming increased regulation for the difference, and deflecting criticism about tariffs by attributing ongoing price increases mostly to the services sector.With prices at grocery stores still a hot issue for Americans, Bessent has defended the Trump administration’s recent moves to cut tariffs on staple imports such as coffee, bananas, beef, and tomatoes. These tariff reductions have been part of a broader effort, including two recent executive orders, to curtail inflation and offer relief to consumers ahead of the holiday season. Bessent explained that while imported goods’ inflation has been flat, services continue to drive price increases. Nevertheless, he promised the Treasury will avoid the mistakes of the previous administration by acknowledging Americans’ concerns and taking action where possible.Bessent’s role has extended beyond domestic policy. As the United States assumes the presidency of the G20, Bessent has begun to outline priorities focused on deregulation, growth, energy security, and critical minerals. Attention is now on how the administration will use its hosting year to push targeted deals, particularly as President Trump and Chinese President Xi Jinping prepare for a series of meetings in twenty twenty six, a move Bessent says will bring stability and predictability to global markets.In a recent CNBC interview, Bessent said there is a very good chance President Trump will announce the next Federal Reserve chair nominee before the Christmas holidays. He noted five strong candidates remain under consideration, with final interviews underway, ahead of Jerome Powell’s term ending in May.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/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

25 Nov 2min