Bessent Spars With Democrats, Offers Regulatory Nuggets at House Hearing

Also, Powell indicates Fed's climate work is over; OCC weighs in on crypto custody; CFPB backs off BNPL rule

Scott Bessent spent much of his appearance before the House Financial Services Committee today sparring with Democrats about Trump’s tariffs and DOGE. The Treasury chief kept his footing and calmly parried the attacks, even getting a smile out of Maxine Waters when he recalled that they once shared the same dance floor on New Year’s Eve in the Bahamas.

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