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Wyn Bessent Obituary - Little River, SC
She was a descendant of John Bessent who arrived at Charles Towne Landing in 1672.
Scott Bessent Is Doing a Terrible, Horrible, No Good, Very Bad Job | The Nation
Last month, Bessent asserted that Trump’s decision to slap major tariffs on China would not harm US consumers. “China will pay for the tariffs because their business model is exporting their way out of this inflation,” he claimed. “They will eat any tariffs that go on.”
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May 2025 Issue
This week, China announced that it would counter Trump’s tariff moves by raising retaliatory duties on US imports to 84 percent. NBC’s report from Hong Kong was headlined: “China is matching Trump tariff for tariff. It has other ways it can strike back, too.” Things have gone so awry that, even as Trump backed off some reciprocal tariffs on Wednesday, he hiked tariffs on Chinese goods to 125 percent.
Bessent Is Wrong About Banks Saving Treasuries - Bloomberg
When senior politicians start talking about technicalities of obscure financial regulations on mainstream TV you can be sure something is up. Treasury Secretary Scott Bessent did just that in the middle of the US bond market selloff last Wednesday, a few hours before President Trump postponed most of his Liberation Day tariffs.
Bessent was talking to Maria Bartiromo on Fox Business Wednesday morning when he bought up plans for deregulation, claiming they’d be very powerful. “Part of the deregulation that’s coming in the banking industry will be changing what’s called the Supplementary Leverage Ratio, which will allow banks to buy more Treasuries without a big capital charge,” he said. “So I would expect that we will have created a new buyer for Treasury securities, a larger more durable buyer.”
Bessent Says Treasury Has Big Toolkit If Needed for Bonds - Bloomberg
“We are a long way” from needing to take action, he said. But “we have a big toolkit that we can roll out” if so. Included in that toolkit is the department’s buyback program for older securities, Bessent said. “We could up the buybacks if we wanted.”
