President Trump signed an executive order on Thursday to create a national stockpile of Bitcoin and other digital currencies, an adviser said, an audacious idea that has been widely criticized as a scheme to enrich crypto investors. The basis of the stockpile will be a stash of Bitcoin, estimated to be worth as much as…
The Federal Reserve pressed pause on interest rate cuts last month. The minutes from its January meeting suggest the hiatus is likely to be a long one. A record of the central bank’s Jan. 28-29 meeting, released on Wednesday, showed that officials have not written off rate cuts completely, and they still expect to lower…
The Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new administration’s top economic official who will steer an agenda that is focused on tax cuts, tariffs and deregulation. Mr. Bessent, a billionaire hedge fund manager with deep experience in financial markets, is…
The United States is poised to add trillions of dollars to the national debt over the next decade as the mounting costs of social safety net programs and growing interest expenses dig the nation into a deeper fiscal hole, according to a report released on Friday by the Congressional Budget Office. The new budget forecasts…
A pair of 50-page policy proposals laying out the plan in detail. Discussions about the specifics with President-elect Donald J. Trump and his advisers. And talks with cabinet nominees about how to pay for it. On the eve of Mr. Trump’s inauguration, the cryptocurrency industry is pushing his incoming administration to execute an audacious plan…
A test for Trump’s cabinet pick For businesses and markets, perhaps the most important of the hearings for the incoming Trump administration’s Cabinet picks starts on Thursday at 10:30 a.m. Eastern. Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, will likely be confirmed by the Senate. But the billionaire hedge fund manager is still…