Headline: Treasury Secretary Bessent Backs Stablecoin Firms, Navigates Evolving Digital Asset Landscape and Economic Policies

Treasury Secretary Scott Bessent has been at the center of several significant policy announcements and economic debates over the past week. On December 1st, Bessent announced that the Treasury Department would be opening an investigation into Minnesota Governor Tim Walz's oversight of state social programs that have been impacted by fraud. Federal prosecutors have charged dozens of people with defrauding Minnesota social programs since 2020, with recent reporting highlighting connections to the Somali American community. This investigation marks a major federal response to what officials are calling a massive scandal.Bessent has also been heavily involved in defending the Trump administration's tariff agenda. He insists that Trump's tariff plan is permanent, claiming the White House can recreate it even if the Supreme Court rules against the administration. The tariff dispute centers on whether President Trump has the legal authority to impose duties under the International Emergency Economic Powers Act, a 1977 law that does not explicitly mention tariffs. Bessent has argued that tariffs are not taxes, a position that contradicts most economists and major dictionaries including Oxford English Dictionary and Merriam Webster.Since baseline tariffs took effect in April, economic data has shown troubling trends. Hiring has slowed, unemployment has increased, manufacturing activity has declined, and inflation has accelerated each month. Consumer sentiment has plunged to record lows, with the University of Michigan Index averaging only 57.6 in 2025, the lowest annual average in history. Despite these headwinds, the stock market has advanced 17 percent this year, though economists warn of potential volatility.The average tariff rate has climbed to 16.8 percent on US imports, up from 2.5 percent last year, representing the highest level in 90 years. Bessent argued that tariffs are good for labor and will bring manufacturing jobs back to the United States to strengthen national security. However, economic data suggests the opposite effect has occurred.If the Supreme Court determines the president exceeded his authority under IEEPA, roughly 90 billion dollars in tariff revenue collected in fiscal 2025 would need to be repaid. This could force the government to borrow money by issuing Treasury bonds, potentially driving up interest rates and impacting the stock market negatively. The Supreme Court heard arguments in November and is expected to issue a decision in the coming weeks.Thank you for tuning in. Please remember to subscribe for more updates on Treasury Department 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

7 Dec 2min

Scott Bessent has quickly become one of the most visible figures in the Trump administration as Secretary of the Treasury, and the last few days have highlighted the scale of the economic and political battles he is leading.According to Fortune, Bessent is aggressively defending President Donald Trumps sweeping tariff program as a permanent feature of United States economic policy, even as it faces a high stakes legal challenge at the Supreme Court. In recent remarks, he argued that the administration could simply redesign and reimpose its tariff structure using other legal authorities if the Court strikes down the current version that relies on the International Emergency Economic Powers Act. Fortune reports that Bessent has framed these tariffs as central to reshoring manufacturing and strengthening national security, insisting that they are good for American labor and warning that abandoning them would undercut working class gains.Nasdaq, summarizing the broader economic context, notes that since the baseline tariff took effect in April, hiring has slowed, unemployment has risen, inflation has accelerated, and consumer confidence has slid toward record lows. The article highlights that Bessent has pushed back on the widespread economic view that tariffs function as a tax on imports, recently saying that he does not believe tariffs are a tax, a statement that puts him at odds with most economists and standard dictionary definitions. Nasdaq also reports that Bessent has called a possible Supreme Court rejection of Trumps tariff authority a loss for the American people, even though many large companies are now suing to recover tens of billions of dollars in duties that might have been collected illegally.Beyond tariffs, Bessent has moved the Treasury into politically sensitive territory at home. The newsletter Tangle reports that on December first, he announced a new Treasury investigation into Minnesota Governor Tim Walzs oversight of state welfare programs following high profile fraud cases tied to federal funds. By opening this probe, Bessent has put the weight of the federal financial apparatus behind a case that blends questions of program integrity, immigration, and counterterrorism financing, intensifying scrutiny on how social funds are monitored and audited.These moves together show Bessent using the Treasury not only as an economic manager but as a central instrument in the administrations broader agenda on trade, law, and domestic governance. His decisions in the coming weeks, especially as the Supreme Court ruling on tariffs approaches, are likely to have significant consequences for markets, federal finances, and the political climate.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

7 Dec 2min

Scott Bessent continues to shape Treasury policy as he navigates significant economic challenges facing the nation. Recent developments show the Treasury Secretary actively engaged in fiscal management and international economic coordination.In early December, Bessent has been focused on addressing inflation concerns and maintaining economic stability as the Federal Reserve continues its policy deliberations. The Treasury Department under his leadership has been monitoring financial markets closely, particularly given volatility in bond markets and shifting interest rate expectations. Bessent has emphasized the importance of sound fiscal policy while working to manage the nation's debt obligations.One key area of Bessent's attention involves international economic relations. He has maintained dialogue with counterparts from major economies to coordinate on financial stability issues. The Treasury under his direction continues to monitor global supply chains and their impact on American economic conditions. Bessent has also been engaged in discussions regarding trade relationships and tariff policies as the administration shapes its economic agenda.Domestically, the Treasury has been working on implementation of various tax and spending policies passed by Congress. Bessent has advocated for fiscal responsibility while acknowledging the need for strategic investments in infrastructure and economic growth. His team at Treasury has been analyzing economic data to provide recommendations to the President and Congress on pressing fiscal matters.The Secretary has also focused on financial regulation and banking stability following recent banking sector challenges. Treasury officials under Bessent have worked with the Federal Reserve and other regulatory agencies to ensure the soundness of the financial system. He has emphasized the importance of maintaining confidence in American financial institutions both domestically and internationally.Bessent's background as a hedge fund manager and former Deputy National Security Advisor brings a unique perspective to Treasury operations. His experience in financial markets has informed his approach to economic policy during what remains a period of uncertainty for many Americans facing inflation and cost of living challenges.As listeners continue to follow economic developments, Bessent's leadership at Treasury will remain central to how the administration addresses ongoing fiscal challenges. Thank you for tuning in and please remember to subscribe for more updates on Treasury policy and economic news.This has been a Quiet Please production. For more check out quietplease 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

4 Dec 2min

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