The Latest Breaking News from Scott Bessent

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

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.

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.”

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

Also: All the news and watercooler chat from Fortune.

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.

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.

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.

“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.

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.”

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