The Dow Jones Industrial Average jumped nearly 400 points on Monday after President-elect Donald Trump’s pick for Treasury secretary, Scott Bessent, laid out his priorities – including tax cuts. In his first interview as Treasury nominee with The Wall Street Journal, Bessent said he will also focus on imposing tariffs, cutting spending and keeping the … Read more
President-elect Donald Trump named hedge fund mogul Scott Bessent as the next Treasury secretary on Friday, ending a rough-and-tumble race that saw fierce jockeying among power players across Wall Street. “I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,” Trump wrote in his announcement, posted … Read more
Billionaire hedge fund manager John Paulson withdrew his name for consideration as treasury secretary in a second Trump administration — citing his “complex financial obligations,” according to a report. “Although various media outlets have mentioned me as a candidate for Secretary of the Treasury, my complex financial obligations would prevent me from holding an official … Read more
According to the old cliché, opposites attract. And there may be no greater example of this than the odd, interesting, and for the country beneficial relationship between Larry Fink and Donald Trump. Yes, you read that right. Fink and Trump. A match made in heaven? No, to be more precise, made on Wall Street, with … Read more
Hacked off with soaring housing costs and stubborn mortgage rates? Disgusted by skimpy supply and the fierce bidding wars that are now required to find a decent place to live? If you’re looking for revenge, buy mortgage-backed securities. No, investing in these lesser-known financial instruments won’t directly cut high housing costs. But it will position … Read more
Treasury Secretary Janet Yellen told lawmakers Wednesday that the department is looking into ways to expand on the limited direct file pilot program with possible extensions in functionality and applicable tax credits up for debate. The free program, which is like a scaled-down version of the popular tax preparation software, has encountered fierce opposition from … Read more
Rising income expenses pushed the Federal Reserve system deep into a record loss last year, the central bank said in preliminary figures released on Friday. Fed income after expenses came in at a negative $114.3 billion last year, versus $58.8 billion in positive income the year before. The loss was tied to a jump in interest expenses faced by … Read more
