All posts tagged "U S Treasury"

An economist sounded the alarm on the Trump administration's "desperate attempt" to avoid "blaring warnings" from financial markets.

In a Thursday opinion column published by The New York Times, economist Eswar Prasad explained why President Donald Trump and the U.S. Treasury were interested in buying billions of dollars' worth of Japanese yen and intervening in the country's currency policy.

"But they are tied together by one big problem: unsustainably high levels of government debt," Prasad wrote. "Currency market intervention is a desperate attempt by Tokyo and Washington to evade the blaring warnings from financial markets."...

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....

Congress quietly drained hundreds of millions of dollars from a largely unused presidential campaign fund to provide a jolt of cash to the United States Secret Service and election security grants, Raw Story has confirmed.

The massive raid of the Presidential Election Campaign Fund was included late last week in Congress’ latest government funding package, which President Joe Biden signed into law.

Raw Story could not confirm which member, or members, of Congress are responsible for inserting language in the middle of the 1,012-page bill that tapped the fund to the tune of $375 million....

A largely unused government fund intended to pay for presidential elections continues to grow with monthly taxpayer infusions — adding $327,000 last month, according to a Raw Story analysis of U.S. Treasury records.

The Presidential Election Campaign Fund has accumulated $400.9 million in taxpayer-funded money as of Nov. 30 — funds that will likely continue to sit in a bureaucratic black hole for years, Treasury records show. The fund ballooned to more than $445.6 million as of June 30, but a nearly $47.5 million disbursement for pediatric research at the National Institutes of Health of money formerly used to put on party conventions decreased the pool of idle dollars.

A once-popular resource for White House aspirants, the Presidential Election Campaign Fund hasn’t been used regularly in 15 years — but taxpayers continue checking a $3 check box that they encounter when filing their annual tax returns by the April deadline....

An unused government fund intended to pay for presidential elections grew by more than $3 million between May 1 and June 30 — the latest influx of taxpayer-funded money that will now likely sit a bureaucratic black hole for what could be years or even decades, according to a Raw Story analysis of U.S. Treasury records.

The Presidential Election Campaign Fund has now ballooned more than $445.6 million through of June 30, growing by about $2 million in May and just under $1 million in June, Treasury records show.

A once-popular resource for White House aspirants, the fund hasn’t been used regularly in 15 years — but taxpayers continue checking a $3 check box that they encounter when filing their annual tax returns by the April deadline. ...

The U.S. Treasury moved quickly to feed the country's appetite for borrowing after an 11th hour political deal lifted the debt ceiling to avoid default, data showed Friday.