US Treasury

The Treasury Department moved Friday to enlist the nation's banks more deeply in President Donald Trump's immigration crackdown, including issuing fresh guidance that lets banks rapidly share information about suspected customers and an advisory steering them to flag signs that one of their customers may lack legal immigration status. These changes are part of the administration's push to remove undocumented workers from the nation's banking system without explicitly mandating that banks do so. In order to get banks to participate, the administration has framed these actions as a crackdown on fraud and crime, not explicitly about immigration. "The information in your purview can help stop a cartel financier, disrupt a money laundering network, uncover labour exploitation, or protect taxpayers from fraud," Treasury Secretary Scott Bessent said in prepared remarks at a banking conference in Houston. Bessent's remarks and the Treasury Department's new guidelines come from an executive

Administration began processing refunds in April after the Supreme Court ruled that President Trump didn't have the authority to impose tariffs using the International Emergency Economic Powers Act

Gold now accounts for a larger share of official global reserves than US Treasuries, reflecting rising central bank demand and a changing financial landscape

The world is getting more uptight about lending money to President Donald Trump's government - causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November's mid-term elections. The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the US government. Interest rates on a 10-year US Treasury note are topping 4.44%, up from 3.95% before the war started at the end of February. Average mortgage rates have climbed to their highest levels in nine months, while auto sales are slumping. The challenge is global in scale, as interest rates have risen for multiple countries as the world has been adjusting to the prospect of higher inflation, mounting questions about the sustainability of government debt and a dramatic surge in investment in artificial intelligence. Trump has tried to assure Americans that he has a plan to trim the roughly USD 1.8 ...

Treasury Secretary Scott Bessent said on Thursday that his department has prepared the design for a USD 250 bill featuring President Donald Trump, anticipating the passage of stalled legislation in Congress to put the president on a new denomination of legal tender. Bessent said at the White House that authorising the new currency will be up to lawmakers on Capitol Hill, but that "we have created the bill" because "we have to be prepared". The secretary downplayed the idea that the administration is pushing the matter, despite Trump's penchant for infusing his name and likeness across the nation's capital and into the observances of the 250th anniversary of the Declaration of Independence. Yet he also insisted there is nothing inappropriate about Trump's visage being part of the seminal national celebration. "The president does not do it; the House and the Senate have to do it," Bessent said at the White House, referring to legislation, introduced by Representative Joe Wilson, R-SC,

With the Iran war unleashing the biggest inflation surge since 2023, traders are pricing in that the Fed is virtually certain to start raising rates by December

A jump in US Treasury yields, pressure on the rupee and RBI's latest liquidity move have again brought focus back on India's 10-year bond yield and why markets track gap so closely

The rupee slid to ‌96.96 per dollar, breaching its previous record low of 96.6150 hit in the prior session, and ended the day at 96.82

The rupee weakened to a fresh low against the dollar amid elevated crude oil prices, higher US Treasury yields, and continued foreign fund outflows

Treasury Secretary Scott Bessent says 30-day extension will help stabilise crude markets and support countries affected by Gulf supply disruptions

Bessent called on Beijing to play a constructive role, particularly ahead of US President Donald Trump's expected meeting with Chinese President Xi Jinping next week

The waiver comes despite earlier US reluctance, as war-linked supply disruptions and Strait of Hormuz curbs push oil prices higher and test Western efforts to restrict Russia's revenues

The IMF pointed to a narrowing gap between the yields of AAA rated corporate bonds and Treasuries as a sign of reduced appeal for US government securities

The remarks come amid broader US efforts to tighten economic pressure on Iran and curb its financial networks, particularly those linked to oil trade and alleged support for proxy groups

Currency weakens and government bond yields rise as crude oil prices and US Treasury yields climb amid geopolitical tensions in West Asia

US President Donald Trump's signature is set to feature on US paper currency soon, a first for a sitting president since the introduction of dollar bills in 1861. The decision, taken by the US Treasury, coincides with the 250th anniversary celebrations of American Independence this year. "In celebration of America's 250th anniversary, President Donald J Trump's signature alongside (Treasury) Secretary Scott Bessent's will soon appear on US currency, marking a first in history, and symbolizes @POTUS' leadership and dedication to our great nation will carry a lasting impact," US Treasurer Brandon Beach said in a post on X. Earlier this month, a federal arts commission approved the final design for a 24-karat gold commemorative coin bearing Trump's image to help celebrate the 250th anniversary of American Independence. "Under President Trump's leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability," Bessent said i

The US Treasury Department is terminating all use of Anthropic products, including use of its platform, Secretary Scott Bessent said a social media post on Monday.

Yields rose broadly following the court's decision with the rate on the benchmark 10-year note climbing to 4.10%

The inquiry adds to ongoing scrutiny of the conglomerate, including a US bribery probe in which the group's chairman has been indicted

President Donald Trump is suing the IRS and Treasury Department for $10 billion, as he accuses the federal agencies of a failure to prevent a leak of the president's tax information to news outlets. The suit, filed in a Florida federal court on Thursday, was also brought by Eric Trump, Donald Trump Jr. and the Trump organization as plaintiffs. In 2024, former IRS contractor Charles Edward Littlejohn of Washington, D.C. - who worked for Booz Allen Hamilton, a defense and national security tech firm - was sentenced to five years in prison after pleading guilty to leaking tax information about Trump and others to news outlets. Littlejohn gave data to The New York Times and ProPublica between 2018 and 2020 in leaks that appeared to be "unparalleled in the IRS's history," prosecutors said. Trump's suit states that Littlejohn's disclosures to the news organizations "caused reputational and financial harm to Plaintiffs and adversely impacted President Trump's support among voters in the 2