Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision
The Treasury secretary cited several sections of 1962 Trade Act that give the president sweeping powers over import duties.
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Bessent Sees More Private Contributions to 'Trump Accounts'
U.S. Treasury Secretary Scott Bessent said he expects more billionaires, foundations and corporations to contribute funds to the new "Trump accounts" for 25 million Americans born between 2025 and 2028, which he said will help them participate in asset appreciation now...
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Bessent to Push Residency Rule for Regional Fed Chiefs
U.S. Treasury Secretary Scott Bessent Wednesday said he plans to advocate for a requirement that the 12 regional Federal Reserve Bank presidents reside in their districts for at least three years before being appointed to those positions.
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US Manufacturing Production Flat in September
U.S. factory production was unchanged in September as manufacturing remained constrained by tariffs on imports.The flat reading in manufacturing output reported by the Federal Reserve on Wednesday followed an unrevised 0.1% gain in August. Economists polled by Reuters had...
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US Services Little Changed in November
The U.S. services sector activity held steady in November, with employment still subdued and prices for inputs elevated, a survey showed Wednesday.
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November private payrolls unexpectedly fell by 32,000, led by steep small business job cuts, ADP reports
The payrolls decline marked a sharp step down from October, which saw an upwardly revised gain of 47,000 positions.
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