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EXPLAINED: 14 - The Real Truth

Treasury rachets up investigations targeting Minnesota's Somali community for fraud

The Treasury Department is targeting businesses used to send money abroad as President Donald Trump's administration ramps up investigations into fraud within Minnesota's Somali community

The Independent UK

Treasury Secretary Bessent calls for looser regulations for the U.S. financial system

U.S. Treasury Secretary Scott Bessent is proposing changes to the Financial Stability Oversight Council

The Independent UK

Scoop: Trump sanctions Maduro's nephews, 6 ships carrying Venezuela oil

It's the latest turn in President Trump's pressure campaign on Maduro, whom the administration has accused of leading a narco-trafficking terrorist organization.

Axios

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'Better To Go Up And Take Our Seats': Trump Battles 'Pretty Rough Flight' While Rushing To Safety

Sudden turbulence forces Donald Trump to end an Air Force One press exchange while travelling to Pennsylvania as his administration pushes affordability messaging.

International Business Times UK

The Latest: Federal judge grants request to unseal Ghislaine Maxwell case records

A federal judge says the Justice Department can publicly release investigative materials from a sex trafficking case against Ghislaine Maxwell, the longtime confidante of Jeffrey Epstein

The Independent UK

Trump tells India to stop ‘dumping rice’ on US or face new tariffs

India is world’s largest rice exporter

The Independent UK

Trump is proposing a $12B aid package for farmers hit hard by his trade war with China

A White House official says President Donald Trump is planning a $12 billion aid package for U.S. farmers who have struggled to sell their crops while getting hit by rising costs

The Independent UK

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Bessent divests from soybean farmland ahead of Trump aid announcement for farmers

Treasury Secretary Scott Bessent says he has divested from his North Dakota soybean farmland

The Independent UK

Craigslist founder signs the Giving Pledge, and his fortune will go to military families, fighting cyberattacks—and a pigeon rescue

“A nerd’s gotta do what a nerd’s gotta do, and a nerd should practice what he preaches,” Craig Newmark said.

Fortune

Ilhan Omar calls Trump’s anti-Somali tirade ‘completely disgusting’

Minnesota congresswoman says ‘hateful rhetoric’ can lead to ‘dangerous actions by people who listen to the president’

The Guardian - US

Bessent sells his soybean farm, says farmers still need help

He sold his farm in the last week, as soybean futures sat near the highest levels of the year.

Axios

Trump Considers Australian Retirement Plan, Musk Predicts AI-Driven Unemployment And More: This Week In Economy

As the week comes to a close, let’s look back at the top stories that emerged over the past few days. From Trump’s contemplation of the Australian retirement system to Elon Musk’s predictions about AI-driven unemployment, here’s a recap of the week’s most significant stories.

Benzinga

Treasury Secretary Bessent insists Trump’s tariff agenda is ‘permanent,’ saying the White House can re-create it even with a Supreme Court loss

Using various other justifications, the White House can implement its tariffs regardless of a Supreme Court loss, said Scott Bessent.

Fortune

Costco November US Core Comps Fall Short, But Trends Overall Consistent: Analyst

Costco Wholesale Corp. (NASDAQ:COST) is facing new scrutiny after its November U.S. core sales came in softer than expected, signaling a rare cooling in the retailer’s multi-month momentum and raising fresh questions about consumer strength heading into the holidays.

Benzinga

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Fortune

Tariffs and the $38 trillion national debt: Kevin Hassett sees ‘big reductions’ in deficit while Scott Bessent sees a ‘shrinking ice cube’

The favorite to become Fed chair says tariffs are an important part of Trump’s economic policy and behind “a lot of the revenue coming into the Treasury.”

Fortune

‘Have they given enough? No’: Melinda French Gates rips into billionaire class, saying Giving Pledge has fallen short

The billionaire philanthropist says there’s more work to be done to get the wealthy to donate.

Fortune

CEOs are making the business case for AI—and dispelling talk of a bubble

Also: All the news and watercooler chat from Fortune.

Benzinga

Scott Bessent Says Trump's 'Exact Tariff Structure' To Continue 'Permanently' Regardless Of Supreme Court Decision

U.S. Treasury Secretary Scott Bessent expressed confidence that the administration would be able to enforce its tariff policies, regardless of the outcome of an ongoing Supreme Court case.

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Benzinga

Trump Weighs Making Treasury Secretary Scott Bessent His Top Economic Adviser If Kevin Hassett Becomes Fed Chair: Report

President Donald Trump is reportedly contemplating appointing U.S. Treasury Secretary Scott Bessent as his chief economic adviser if incumbent Kevin Hassett is chosen as the next Chairman of the Federal Reserve.

Benzinga

Bernie Sanders Says Likes Of Jeff Bezos And Elon Musk Now Own More Wealth Than 50% Of Americans Combined, Wonders If Thats What People Are Angry About

Sen. Bernie Sanders (I-Vt.) has renewed his criticism of extreme wealth concentration, arguing that the fortunes of three tech billionaires now eclipsing the bottom half of American households reflect a fundamentally broken economic system.

Fortune

Scott Bessent calls the Giving Pledge well-intentioned but ‘very amorphous,’ growing from ‘a panic among the billionaire class’

“When you see that people have a stake in the system, they don’t want to bring the system down,” the Treasury secretary argued at the DealBook Summit.

Fortune

Scott Bessent is defiant on whether tariffs are a tax, demands Democrats work to cut actual taxes instead

Saying that some Democrats had walked into his “bear trap,” the Treasury secretary urged them: “Join me and cut taxes, and that will be disinflationary.”

The Independent UK

Bessent says White House may 'veto' Federal Reserve presidents

Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency

Benzinga

Scott Bessent, Ted Cruz Hail $1,000 Trump Accounts For Kids: 'This Will Transform America'

President Donald Trump has launched "Trump Accounts," providing every eligible newborn in the U.S. with a $1,000 government-funded savings account to jumpstart their financial future.

The Independent UK

Epstein survivors call on Congress to force Trump administration to hand over financial records

Bank records at the Treasury Department could expose the sex trafficker’s ‘cross-border criminal organization,’ victims say

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