All posts tagged "Treasury"

President Donald Trump's threat to use military intervention to handle the troubled bond markets is baffling his online critics.

On Friday, a reporter asked Trump about increasing bond yields, which Treasury Secretary Scott Bessent has struggled to contain after a failed debt buyback intervention earlier this week.

"Have you talked to Bessent about another type of intervention?" a reporter asked Trump....

President Donald Trump on Friday answered a reporter's question about calming the turbulent bond market by saying he'll use military force.

Trump was asked whether he had spoken with Treasury Secretary Scott Bessent about "another type of intervention" after bond yields climbed back to multi-year highs.

"The ultimate intervention is our military," Trump said. "And if we have to use that, we will."...

A photographer snapped a photo over Treasury Secretary Scott Bessent's shoulder that revealed a plan hours before a notable currency jump.

During a Trump Cabinet meeting at Camp David on Friday, Reuters news photographer Daniel Heuer captured Bessent's jottings on a notepad in front of him. At the top, the note read, "To Do," and underneath that, Bessent had written, "Buy Japanese Yen (JPY) $5-10 bil."

According to reporting by Reuters, the Treasury had already put banks on alert for a possible U.S. intervention in the market for Japan's currency when Heuer took the photo....

A former attorney for President Donald Trump slammed his $10 billion lawsuit against the IRS and plan to create a $1.7 billion fund.

"It's completely illegal and absurd," attorney Ty Cobb said Saturday on MS NOW. "The case against the IRS is a completely fabricated vehicle for Trump to try to loot the treasury."

Trump has said that he plans to drop his $10 billion lawsuit against the IRS, which he oversees as chief executive, in favor of a $1.7 billion fund to pay off allies – including Jan. 6 rioters – who say they were attacked and had their tax information disclosed by the Biden administration....

Elon Musk regaled Sen. Ted Cruz (R-TX) with tales of "magic" federal computers he claimed made money "out of thin air" that were discovered by his colleagues at the Department of Government Efficiency.

Musk sat down with Cruz for his podcast that was recorded at The White House.

In a clip posted to Musk's social media platform X, Cruz began, "One of the things you told me about is ..." ...

US Treasury Secretary Timothy Geithner, who steered the administration of President Barack Obama through the financial crisis, will step down from his post Friday, a source told AFP on Tuesday.