Tag: Treasury
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Trump picks Scott Bessent to serve as treasury secretary
President-elect Donald Trump on Friday asked Scott Bessent, a top fundraiser to his campaign, to serve as secretary of the Treasury Department, two sources familiar with the matter confirmed to NBC News. If confirmed by the Senate, Bessent will helm the fiscal policies for an economy that weathered high inflation in recent years, an issue…
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Treasury Department now using AI to save taxpayers billions of dollars
The latest benefit from the artificial intelligence revolution: saving American taxpayers billions of dollars. The U.S. Treasury Department said its increased use of artificial intelligence in fraud detection helped prevent or recover more than $4 billion over the past year. In a release Thursday, Treasury officials said it had been leaning especially into machine learning,…
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Pro-Hamas group that helped organize college protests is a ‘sham charity,’ Treasury says
A pro-Hamas organization that has helped organize protests on American college campuses is a “sham charity” that fundraises for a terrorist group, the Treasury Department said Tuesday. In a joint action by the U.S. and Canadian governments, the Samidoun Palestinian Prisoner Solidarity Network, or “Samidoun,” was sanctioned by the Treasury Department and listed as a…
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The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?
With its larger-than-normal cut last week, the Federal Reserve sent a clear message that interest rates are heading considerably lower in the future. The Treasury market, though, hasn’t been paying attention. Despite the Fed approving a half percentage point reduction in its baseline short-term borrowing rate, Treasury yields instead have been moving higher, particularly at the long…