Congressional Budget Office Director Phillip Swagel said faster economic growth is unlikely to keep U.S. debt in check, even if GDP expands at more than double its current pace. Gross debt is now $40 trillion, and publicly held debt is 100% of GDP. Just keeping that ratio flat, let alone bringing it down, would require
President Donald Trump’s financial accounts made nearly 40 times as many trades in one month as those belonging to Treasury Secretary Scott Bessent, a Wall Street veteran with decades of experience. Trump earlier this week disclosed 1,156 transactions made by accounts in his name in July, including 440 purchases and 716 sales, according to a
Treasury Secretary Scott Bessent isn’t short of investors keen to rap his knuckles—and his friend and mentor, Stan Druckenmiller, was at the front of the queue. Bessent has been chastised by many for his recent attempt to manage prices in the bond market. As 30-year Treasury yields rose toward a near-20-year high last month, the
Treasury Secretary Scott Bessent says the US is getting ready to squeeze Iran with unprecedented economic pressure, a claim critics greeted with skepticism given the country is already subject to a naval blockade and thousands of sanctions. While the Trump administration hasn’t said what it’s planning to do, there are still pressure points that Bessent’s Treasury Department
