Treasury Secretary Scott Bessent is meeting with finance ministers of the world's largest economies this week at a time when the United States has disrupted the international order with aggressive tariffs on major allies and an unpopular war on Iran.
The New York Times said in a statement that denying American journalists access to an event in the U.S. is "not just another disturbing effort by the administration to undermine independent journalism, but a blatant attempt to evade public scrutiny."
The meeting, which China and Russia are attending, is focused on the ongoing economic shock from the war in Iran, which has driven up oil prices globally.
Treasury Secretary Scott Bessent and the Federal Reserve chairman, Kevin Warsh, in Asheville, N.C., before the summit. The International Monetary Fund has projected that global growth will slow this year and that inflation will rise.
Under a new rule proposed Friday by the Treasury Department, the Emirati branches of Banque Misr, Egypt's second-largest bank, would be severed from access to the U.S. financial system.
Investors want Kevin Warsh, the Fed chairman, to address inflation, interest rates and the bond market in a major speech. Some worry he won’t say enough.
The relative indifference to the news that the U.S. government now owes $40 trillion demonstrates how drastically the politics of deficit spending has changed.
A sustained sell-off in the bond market sent long-term Treasury yields to their highest levels in nearly 20 years this week, rattling both Wall Street and Washington. Higher yields, essentially the interest rate the government pays to borrow money, also mean higher borrowing costs throughout the economy, from mortgages to car loans. Amna Nawaz discussed more with The Washington Post's David Lynch.
Login
