When Treasury Secretary Scott Bessent engineered a unique deal with Argentina’s Javier Milei, Guy Nohra started paying attention to Bessent’s moves. 
Nohra, a venture capitalist with over three decades of experience, knows a solid operator when he sees one.
In the Trump administration, Nohra says that guy is Scott Bessent. — The Daily Wire
* * *
After more than three decades investing in life sciences, co-founding Alta Partners and backing more than 180 breakthrough companies, I’ve learned a simple truth: innovation thrives when financial stability meets vision. Under Treasury Secretary Scott Bessent, America is delivering both.
This week’s $20 billion swap line with Argentina, paired with the U.S. purchase of Argentine pesos to stabilize markets, showed a different face of American leadership — one built on partnership rather than pressure. At home, Bessent’s confirmation that fiscal year 2025 closed with a lower deficit-to-GDP ratio than the year before signaled a welcome return to fiscal discipline. For investors like me, that message matters.
In biotech, one of the few if not the only sectors where pre-revenue companies go public in bull markets, a steady and clear hand at the Department of Treasury is a must. Secretary Bessent’s quiet confidence is a welcome change from Janet Yellen’s “inflation is transitory” approach. The life sciences public sector has been in a funk since 2021 and is finally showing signs of recovery.
Furthermore, venture funding in private life sciences companies has climbed roughly 25% year over year, according to PitchBook. That is not coincidence; it is cause and effect. Bessent’s push for clarity and transparency in financial markets helps all sectors, but especially fragile ecosystems such as biotechnology.
Bessent also understands how fiscal health drives innovation. In recent remarks to community-bank CEOs, he urged them to “go on the offense” by adopting fintech and AI. That was not banker talk; it was a blueprint for growth. By modernizing lending rules and keeping borrowing costs low, he has opened new paths for regional lenders to support early-stage biotechs and rural innovation hubs.
Some critics claim his attention to global markets, such as the Argentina initiative, distracts from domestic priorities. They miss the larger point. In life sciences, borders are illusions. A stable global economy ensures supply-chain reliability, research collaboration, and steady talent flow. Bessent’s diplomacy prevents the kind of market shocks that raise costs and choke investment at home.
What sets him apart is a blend of intellectual rigor and street-smart optimism, refined through years in global markets and at the helm of his own firm, Key Square Capital. He is not a bureaucrat trading in slogans but a market-tested operator who knows how to turn downturns into momentum. In his speech at the Federal Reserve’s Community Bank Conference, he described a future where small lenders and big ideas combine to help America out-innovate China in quantum computing, biologics, and sustainable manufacturing. For those of us funding the next generation of cures, that vision is a North Star.
As we approach a decade that could redefine human health — CRISPR 2.0, personalized medicine at scale, regenerative medicine — Scott Bessent’s steady leadership is providing the runway. His policies may not make flashy headlines, but they are quietly powering America’s next economic renaissance.
To my fellow investors, entrepreneurs, and policymakers: let’s double down on this moment. His 3% average GDP growth, 3% annual budget deficits (as a percentage of GDP), and three million barrel increase in domestic oil production are aggressive but achievable goals.
Let’s support the initiatives Bessent is advancing, from expanded R&amp;D incentives to bold public-private partnerships in health technology. The future of life sciences, and of American competitiveness, depends on it.
* * *
Guy Paul Nohra is Co-Founder of Alta Partners and Co-Founder of Alta Life Sciences Spain. He is a venture capitalist, philanthropist, and former GOP gubernatorial candidate for Nevada. He holds a BA from Stanford University and an MBA from Booth School of Business, University of Chicago.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.
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White House To Ratchet Up Russia Sanctions, Bessent Says

The Steady Hand Guiding America’s Economic Renaissance

Argentina

Capitalism

Economy

Javier Milei

Money

Scott Bessent

Treasury Department

When nations face a fiscal emergency they turn to the <a href="https://www.imf.org/en/About/Factsheets/Sheets/2022/IMF-World-Bank-New" target="_blank" rel="noopener">International Monetary Fund (IMF).</a> When they need capital to build roads, energy grids, or water sanitation, they go to the <a href="https://www.imf.org/en/About/Factsheets/Sheets/2022/IMF-World-Bank-New" target="_blank" rel="noopener">World Bank.</a>
Both institutions play essential roles in the international financial system. But Treasury Secretary Scott Bessent <a href="https://home.treasury.gov/news/press-releases/sb0094#:~:text=First%2C%20we%20must%20make%20the,deficit%20in%20our%20nation's%20history." target="_blank" rel="noopener">believes</a> “mission creep has knocked these institutions off course.”
Earlier this year, Bessent warned that the IMF and World Bank have drifted from their mandates by devoting time and resources to work on <a href="https://home.treasury.gov/news/press-releases/sb0094#:~:text=First%2C%20we%20must%20make%20the,deficit%20in%20our%20nation's%20history." target="_blank" rel="noopener">climate change, gender, and social issues</a>. On Wednesday, he acknowledged recent course corrections and urged both institutions to continue refocusing on their original mandates.
“At a time when countries around the world are tightening their belts, we should expect the same from public institutions that have been built with and supported by taxpayer money from around the world,&#8221; Bessent <a href="https://home.treasury.gov/news/press-releases/sb0280" target="_blank" rel="noopener">said</a> this week ahead of both the IMF and World Bank&#8217;s annual meetings.
He criticized the board’s &#8220;ballooning salaries” and expanding administrative overhead, urging the institutions to impose financial discipline. “Resources must not be siphoned away from the core missions,” he added.
Part of that mission involves refocusing the IMF and World Bank’s relationship with China.
Last week, China sent a letter announcing large-scale export controls taking effect on November 1. President Donald Trump said the export controls would be on “virtually every product they make“ and “affect all countries.” He condemned the policy as a “moral disgrace” and responded with a threat to raise tariffs to 100% on all Chinese imports.
Bessent, echoing Trump’s concerns, urged the IMF and the World Bank to take another look at China.
“The IMF is uniquely positioned to provide bilateral and multilateral economic surveillance that identifies imbalances and risks, facilitates the balanced growth of international trade, and discourages harmful policies.”
Bessent called the IMF to examine China’s policies, focusing their surveillance “on macroeconomic and financial stability” rather than “climate and gender.”
Addressing the World Bank, Bessent pushed for implementing a graduation policy “supporting countries along the way to self-reliance and enabling the bank to concentrate its resources on poorer, less creditworthy countries where its support is most needed and most impactful.”
Bessent specifically named China as a country that should no longer be receiving World Bank assistance, saying it’s time for the institution to “graduate” China and focus its limited resources where support is truly needed.
Bessent’s stance matters. The United States is the largest financial contributor to both institutions, giving it considerable influence over policy direction and voting power.
The Treasury Secretary&#8217;s remarks also mark a sharp change in policy from his predecessor. At the 2024 Annual Meetings of the International Monetary Fund and World Bank, Biden Treasury Secretary Janet Yellen praised the “record high of nearly $75 billion in climate finance to low- and middle-income countries in 2023, a 45 percent increase from 2021.”
“Confronting climate change, of course, remains at the top of our agenda,” she announced. She also supported an expansion of IMF funding through increased quotas.

FILE PHOTO: U.S. Treasury Secretary Bessent testifies before a House Ways and Means Committee hearing on Capitol Hill

Bessent Pushes IMF And World Bank Focus On China, Not Gender And Climate Issues

China

Climate Change

Donald Trump

A key adviser in the Treasury Department is drawing up plans that would overhaul the IRS criminal-investigative division and allow the Trump administration to more easily target leftist groups, The Wall Street Journal <a href="https://www.wsj.com/politics/policy/trump-irs-investigations-left-leaning-groups-democratic-donors-612a095e?mod=hp_lead_pos1">reported</a> on Wednesday.
A senior IRS official involved in making the plans told the WSJ that the administration has already compiled a list of targets, including Democratic donors, that the IRS would investigate. Gary Shapley, who advises Treasury Secretary Scott Bessent, has told people that he will replace career bureaucrat Guy Ficco, the chief of the service’s investigative unit, according to the WSJ.
The move would help the administration control the reins of the IRS criminal investigation division and install people who align with Trump’s vision. The plans would also open the doors for IRS investigators to go after leftist groups and target Democratic mega-donors, including George Soros, according to a senior IRS official and another source, whom the WSJ reported was “briefed on the list.”
President Donald Trump has already tasked Bessent, who is also serving as the acting IRS commissioner, with probing left-wing groups that the administration believes could be financing violent demonstrations against the Trump administration in cities across the United States. Trump has also called for Soros and his son, Alex, to be charged under the Racketeer Influenced and Corrupt Organizations Act (RICO) “because of their support of Violent Protests, and much more, all throughout the United States of America.”
“We’re not going to allow these lunatics to rip apart America any more, never giving it so much as a chance to ‘BREATHE,’ and be FREE,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/115100792784831675">wrote</a> on Truth Social on August 27. “Soros, and his group of psychopaths, have caused great damage to our Country! That includes his Crazy, West Coast friends. Be careful, we’re watching you!”
Bessent said on Wednesday that his department is prioritizing the effort to target “violent domestic networks,” comparing the plan to the United States going after terrorist networks after 9/11. The IRS is a bureau of the Treasury Department.
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During an appearance on a special White House edition of “The Charlie Kirk Show” on the same day that Kirk was posthumously awarded the Presidential Medal of Freedom, Bessent highlighted the rise of anti-Israel demonstrations in the United States following Hamas’ attack on the Jewish state two years ago.
“Since the terrible day two years ago, the anti-Semitism and the bias that came out after October 7, 2023, many of these organizations have been financed by non-profits, and it&#8217;s going to stop. And we are going to, as they always say, follow the money … this takes a lot of money and a lot of organization,” he said.
Bessent added that the assassination of Charlie Kirk kick-started the Treasury Department’s effort to “compile lists” of networks that are responsible for funding any leftist violence.
“Charlie’s death has set this off, and we are determined, not only to honor him, but to keep our country safe and to ensure freedom of speech on both sides,” the Treasury Secretary said.
<blockquote class="twitter-tweet">
Just as <a href="https://twitter.com/USTreasury?ref_src=twsrc%5Etfw">@USTreasury</a> led the effort after 9/11 to track terrorist financing, it will follow the money behind violent domestic networks. We will expose domestic terrorists and bring them to justice. <a href="https://t.co/iitcxdcgnf">pic.twitter.com/iitcxdcgnf</a>
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1978181513251344429?ref_src=twsrc%5Etfw">October 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Shapley did not address the proposed overhaul of the IRS criminal investigation division when asked by the WSJ, simply stating, “I’m grateful to continue in my role in reforming the IRS.”
A Treasury Department spokesman told the WSJ that the IRS “team’s focus remains collections, privacy, and customer service.”
The Daily Wire reached out to the White House, requesting comment on the WSJ report.

President Trump Signs Order On TikTok’s US Operations

Trump Eyes IRS Overhaul To Go After George Soros, Leftist Donor Networks

George Soros

Leftists

Trump Administration

The Treasury Department announced sanctions on Monday against an illicit fentanyl network tied to the Sinaloa Cartel as the Trump administration ramps up its war on drug traffickers. 
The department’s Office of Foreign Assets Control said the sanctions would impact eight Mexicans and 12 Mexico-based companies tied to the Sinaloa Cartel’s Los Chapitos faction. The State Department has designated the Sinaloa Cartel a Foreign Terrorist Organization.
“Over 500,000 Americans have died of fentanyl poisoning,” said Undersecretary for Terrorism and Financial Intelligence John K. Hurley. “President Trump has made clear that stopping the deadly flow of drugs into our country is a top national security priority. Under Secretary Bessent’s leadership, the Treasury Department is committed to dismantling the complex financial networks that support these terrorist organizations.”
The main company targeted by the sanctions is Sumilab, which the department said was responsible for shipping fentanyl precursor chemicals to the Sinaloa Cartel. A number of individuals affiliated with the company, including Jorge Luis Favela Lopez, Francisco Favela Lopez, Victor Andres Favela Lopez, and Martha Emilia, were all sanctioned. 
The department said that the family was “responsible for supplying and distributing precursor chemicals and lab equipment to Sinaloa Cartel-affiliated chemical brokers and lab operators, who produce illicit fentanyl and methamphetamine.”
<div class="image"><img loading="lazy" decoding="async" class="size-full wp-image-981565 aligncenter" src="https://dw-wp-production.imgix.net/2025/10/Screenshot-2025-10-06-at-9.20.23-AM.png" alt="" width="1583" height="1183" srcset="https://dw-wp-production.imgix.net/2025/10/Screenshot-2025-10-06-at-9.20.23-AM.png 1583w, https://dw-wp-production.imgix.net/2025/10/Screenshot-2025-10-06-at-9.20.23-AM-300x224.png 300w, https://dw-wp-production.imgix.net/2025/10/Screenshot-2025-10-06-at-9.20.23-AM-771x576.png 771w, https://dw-wp-production.imgix.net/2025/10/Screenshot-2025-10-06-at-9.20.23-AM-768x574.png 768w, https://dw-wp-production.imgix.net/2025/10/Screenshot-2025-10-06-at-9.20.23-AM-1536x1148.png 1536w" sizes=" (max-width: 1583px) 100vw, 1583px" /></div>
Sumilab was first targeted by the Treasury Department back in 2023, after which the company removed signs from its building.
<div id="attachment_981557" style="width: 634px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-981557" class="wp-image-981557 size-full" src="https://dw-wp-production.imgix.net/2025/10/unnamed-5.png" alt="" width="624" height="188" srcset="https://dw-wp-production.imgix.net/2025/10/unnamed-5.png 624w, https://dw-wp-production.imgix.net/2025/10/unnamed-5-300x90.png 300w" sizes=" (max-width: 624px) 100vw, 624px" />Treasury Department</div>
Also sanctioned was Martha Emilia Conde Uraga, who, the department stated, was a “longtime” Sinaloa Cartel-affiliated chemical broker operating out of several locations in Culiacán, Mexico.
“Utilizing fraudulent invoicing and other concealment methods, Conde Uraga supplies precursor chemicals to drug traffickers and lab operators working for the Los Chapitos faction of the Sinaloa Cartel,” the department said. 
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Seven other chemical, laboratory equipment, and agriculture-related companies operated by the Favela Lopez family, including Agrolaren, Viand, Favelab, Qui Lab, and Storelab, were also sanctioned, the Trump administration said. 
As a result of the sanctions “all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to” the department and “any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.”

President Trump Signs Executive Order In The Oval Office

Trump’s Treasury Sanctions Entities Tied To Notorious Mexican Cartel

Drug Cartels

Fentanyl

Sinaloa Cartel

A top IRS lawyer who once advocated for action to “resist” President Donald Trump has been placed on administrative leave as officials probe whether he has put his words into action at the powerful tax-collecting agency, The Daily Wire has learned.
The inquiry was launched after The Daily Wire <a href="https://www.dailywire.com/news/top-irs-lawyer-under-trump-pledged-to-resist-president-is-former-dem-aide?author=Leif+Le+Mahieu&amp;category=News&amp;elementPosition=3&amp;row=0&amp;rowType=Vertical+List&amp;title=Top+IRS+Lawyer+Under+Trump+Pledged+To+%E2%80%98Resist%E2%80%99+President%2C+Is+Former+Dem+Aide">reported</a> on Wednesday that Anthony Sacco, a lawyer for the IRS Chief Counsel’s office, has a history of advocating for far-left positions, including fighting back against Trump, whom he now serves under. Sacco holds a key role at the IRS, where he interprets how convoluted federal tax law is applied in specific situations. 
Sacco was brought on by the Biden administration as a career employee in September 2022. The vast majority of positions at the IRS are considered career roles, with only the commissioner and chief counsel being politically appointed. Before joining the IRS, Sacco <a href="https://www.linkedin.com/in/anthony-sacco-5a4319a4/" target="_blank" rel="noopener">worked</a> under Oregon Democratic Senator Ron Wyden for the Senate Finance Committee, according to his LinkedIn. 
READ MORE: <a href="https://www.dailywire.com/news/top-irs-lawyer-under-trump-pledged-to-resist-president-is-former-dem-aide">Top IRS Lawyer Under Trump Pledged To ‘Resist’ President, Is Former Dem Aide</a>
In his role at the IRS, Sacco has co-authored multiple revenue rulings under both Biden and Trump, including as recently as April 17, 2025. Revenue rulings are authoritative IRS interpretations of how tax laws are applied by agency officials. 
Sacco locked his X account shortly after The Daily Wire reached out to him for comment, but not before his posts were archived. His posts included calls for Democrats to “pack” the Supreme Court as a way to &#8220;resist&#8221; Trump.
“The Republican Party has completely obliterated principles, integrity, and norms. Screw ‘going high.’ Pack the Court.<a href="https://archive.ph/o/UtXC5/https://x.com/hashtag/resist?src=hashtag_click"> #resist</a><a href="https://archive.ph/o/UtXC5/https://x.com/hashtag/gop?src=hashtag_click"> #gop</a><a href="https://archive.ph/o/UtXC5/https://x.com/hashtag/election?src=hashtag_click"> #election</a><a href="https://archive.ph/o/UtXC5/https://x.com/hashtag/vote?src=hashtag_click">#vote</a><a href="https://archive.ph/o/UtXC5/https://x.com/hashtag/packthecourt?src=hashtag_click"> #packthecourt</a>,” he posted to X in September 2020 ahead of the vote to confirm Amy Coney Barrett to the Supreme Court. 
<div id="attachment_963727" style="width: 1166px" class="wp-caption alignnone"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-963727" class="size-full wp-image-963727" src="https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-4.02.18-PM.png" alt="" width="1156" height="969" srcset="https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-4.02.18-PM.png 1156w, https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-4.02.18-PM-300x251.png 300w, https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-4.02.18-PM-687x576.png 687w, https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-4.02.18-PM-768x644.png 768w" sizes=" (max-width: 1156px) 100vw, 1156px" />Sacco X post.</div>
The disciplinary action came as the Trump administration works to root out government bureaucrats who may attempt to stymie the president&#8217;s agenda.
On Thursday, Treasury Secretary and Acting IRS Commissioner Scott Bessent received a briefing from IRS officials that included a discussion of the Trump administration&#8217;s push to de-weaponize the federal government, the department told The Daily Wire. They discussed Bessent&#8217;s desire to make the IRS a non-political agency after years of accusations that it was targeting Christian groups and conservative advocacy organizations. 
Present at the meeting were IRS whistleblowers Gary Shapley and Joseph Ziegler, who investigated Hunter Biden over his shady tax practices. Both Shapley and Ziegler said the Biden administration retaliated against them based on their investigation into Hunter. 
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When made aware of the posts, Senator Tom Cotton (R-AR) called for Sacco to be fired. 
“With deep state leftists in its leadership, it is no wonder the IRS has repeatedly targeted conservatives and conservative organizations,” Cotton told The Daily Wire on Wednesday. “This individual should be fired immediately.”
In another post, he shared a call from anthem-kneeler Colin Kaepernick to “abolish” the “white supremacist institution of policing” and another post that claimed “policing is based on race” and that the job itself was “racist.” 
<div id="attachment_963731" style="width: 1164px" class="wp-caption alignnone"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-963731" class="size-full wp-image-963731" src="https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-10.20.53-AM-1.png" alt="" width="1154" height="509" srcset="https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-10.20.53-AM-1.png 1154w, https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-10.20.53-AM-1-300x132.png 300w, https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-10.20.53-AM-1-1024x452.png 1024w, https://dw-wp-production.imgix.net/2025/08/Screenshot-2025-08-19-at-10.20.53-AM-1-768x339.png 768w" sizes=" (max-width: 1154px) 100vw, 1154px" />Sacco retweet.</div>
Outside of social media, Sacco helped prepare a lengthy <a href="https://harvardlawreview.org/print/vol-133/abolition-constitutionalism/">academic article </a>published by the Harvard Law Review that argued that prisons should be abolished. In the article, the primary author argued “that white supremacy is deeply woven into the fabric of every legal institution in the United States.”

MixCollage-21-Aug-2025-02-36-PM-7276

‘Resist’ IRS Lawyer Put On Leave After Daily Wire Report On Far-Left Advocacy

Supreme Court

Treasury Secretary Scott Bessent declared on Wednesday that he will begin advocating for a ban on individual stock trading in Congress, arguing that major portfolio gains by lawmakers undermine voter confidence in the system.
When pressed during an <a href="https://www.youtube.com/watch?v=aR85WkgO8bc" target="_blank" rel="noopener">interview</a> with &#8220;Bloomberg Surveillance&#8221; on whether President Donald Trump is prepared to sign off on stock trading legislation <a href="https://www.dailywire.com/news/senate-panel-votes-to-ban-stock-trading-for-lawmakers-president-and-vp-but-spares-trump" target="_blank" rel="noopener">making its way</a> through Congress, Bessent said he did not believe a &#8220;perfect bill&#8221; had been introduced yet, but did express a desire for a crackdown.
&#8220;I am going to start pushing for a single stock trading ban because the — it is the credibility of the House and the Senate that you look at some of these eye-popping returns, whether it&#8217;s Representative Pelosi, Senator Wyden, every hedge fund would be jealous of them,&#8221; Bessent said.
<blockquote class="twitter-tweet" data-media-max-width="560">
I am pushing for a ban on single-stock trading in Congress. The American people deserve better than politicians like <a href="https://twitter.com/RonWyden?ref_src=twsrc%5Etfw">@RonWyden</a> and <a href="https://twitter.com/SpeakerPelosi?ref_src=twsrc%5Etfw">@SpeakerPelosi</a> with hedge-fund level returns. Public service should be about serving the people, not getting rich. <a href="https://t.co/yaXFGRfiMz">pic.twitter.com/yaXFGRfiMz</a>
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1955713416292601876?ref_src=twsrc%5Etfw">August 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bessent, a former hedge fund manager, was referring to former House Speaker Nancy Pelosi (D-CA) and Sen. Ron Wyden (D-OR) — both of whom are <a href="https://nypost.com/2025/06/21/us-news/pelosi-added-millions-to-net-worth-last-year-report/" target="_blank" rel="noopener">estimated</a> to be worth <a href="https://www.nasdaq.com/articles/net-worth-update-senator-ron-wyden-made-estimated-8241k-stock-market-last-month" target="_blank" rel="noopener">millions</a> of dollars.
&#8220;And you know, the American people deserve better than this. People shouldn&#8217;t come to Washington to get rich,&#8221; Bessent continued. &#8220;They should come to serve the American people and it brings down trust in the system because, I can tell you, that if any private citizen traded this way, the SEC would be knocking on their door.&#8221;
<a href="https://get.dailywire.com/subscribe/plus/?utm_campaign=summer&amp;utm_content=editorialsummersale&amp;utm_medium=website&amp;utm_source=editorial" target="_blank" rel="noopener">End of Summer Sale – Get 40% off New DailyWire+ Annual Memberships</a>
Pelosi&#8217;s well-known success in the stock market during her time in Congress has drawn intense scrutiny, but it may not be examined by the Securities and Exchange Commission or be a focus of any formal investigation any time soon. In fact, just last month, senators <a href="https://x.com/SenRickScott/status/1950637197272727566" target="_blank" rel="noopener">shot down</a> a measure seeking an inquiry into her trades.
During a recent appearance on CNN, Pelosi <a href="https://www.dailywire.com/news/nancy-pelosi-visibly-perturbed-by-cnns-random-act-of-journalism" target="_blank" rel="noopener">responded</a> to Trump accusing her of insider trading, rejecting the claim.
&#8220;That’s ridiculous,” Pelosi said. &#8220;In fact, I very much support the — stop the trading of members of Congress, not that I think anybody’s doing anything wrong, if they are, they are prosecuted and they go to jail. But because of the confidence it instills in the American people, don’t worry about this. But I have no concern about the obvious investments that have been made over time, I’m not into it, my husband is, but it isn’t anything to do with anything insider.&#8221;
As some other lawmakers <a href="https://www.notus.org/money/shri-thanedar-stock-act-violation" target="_blank" rel="noopener">violate</a> disclosure rules that are currently in place, Bessent pointed out that both <a href="https://thehill.com/homenews/administration/5267113-donald-trump-congressional-stock-trading-ban/" target="_blank" rel="noopener">Trump</a> and House Minority Leader Hakeem <a href="https://punchbowl.news/article/house/bipartisan-group-eyes-stock-trading-ban/" target="_blank" rel="noopener">Jeffries</a> (D-NY) have voiced support for a congressional stock trading ban.
&#8220;The House and the Senate, they&#8217;re supposed to be working for the American people — their constituents,&#8221; Bessent said. &#8220;They&#8217;re supposed to be making law. And they shouldn&#8217;t be trading every day. I&#8217;m not going to name names, but there was one person in Congress who had 12 or 13 hundred trades two years ago. And you know, my hedge fund didn&#8217;t have that many trades.&#8221;
Bessent also warned, &#8220;There&#8217;s something going on on Capitol Hill in terms of information leakage that is statistically &#8230; not sound.&#8221;

Treasury Secretary Scott Bessent

Bessent Targets ‘Eye-Popping’ Stock Gains Made By Members Of Congress

Congress

Nancy Pelosi

Stock Market

U.S.

The Trump administration’s Department of the Treasury on Wednesday announced sanctions on leaders of a ruthless Mexican drug cartel in a move that the federal agency says will hinder the organization’s drug trafficking operations.
The sanctions targeted five key figures of the Cartel de Jalisco Nueva Generacion (CJNG), a vicious criminal enterprise that produces illicit drugs and traffics them into the United States.
“CJNG’s reign of terror across Mexico and its trafficking of fentanyl into the United States has destroyed countless innocent lives,” Treasury Secretary Scott Bessent <a href="https://home.treasury.gov/news/press-releases/sb0169">said</a>. “The United States remains strongly committed to leveraging all available tools to degrade the capacity of CJNG and other cartels to flood our streets with dangerous drugs and perpetrate heinous acts of violence against civilians.”
Any property held by the five cartel members in the United States will now be frozen and reported to the federal government.
The Treasury Department described the organization as “a brutally violent cartel responsible for a significant share of fentanyl and other illicit drugs entering the United States,” adding, “It uses murder as a tactic to intimidate rivals, including sending messages to other cartels through the targeted killings of women.”
CJNG’s founder and leader, Ruben Oseguera Cervantes, known as “El Mencho,” was among the five men targeted.
“Under Oseguera’s direction, CJNG operatives have assassinated rivals, Mexican law enforcement, judges, and other government officials,” the Treasury Department noted, also pointing out that Oseguera’s leadership allowed the cartel to “function like a franchise business across several Mexican states,” allowing the criminal enterprise to spread across the country and rake in billions of dollars from the drug trade.
The Treasury also sanctioned Julio Alberto Castillo Rodriguez, who it identified as a senior CJNG member and the son-in-law of Oseguera. Castillo, believed to be a possible successor to Oseguera, operates a port in southwestern Mexico that the cartel uses to import fentanyl precursors.
Another target, Gonzalo Mendoza Gaytan, is known to recruit new CJNG members and train them at Izaguirre Ranch, a facility in the Mexican state of Jalisco, according to the Trump administration. Mendoza “directed lieutenants to train new CJNG recruits and kill those who defied instructions” and “has also been involved in the murder of numerous law enforcement officers,” the Treasury Department said.
The Treasury hit two more CJNG operatives, Audias Flores Silva and Ricardo Ruiz Velasco, with sanctions. Flores is a regional CJNG commander over several Mexican states and oversees laboratories that produce methamphetamine, while Ruiz runs the CJNG’s propaganda wing. Ruiz is also believed to have killed his girlfriend during a live social media broadcast.
The flurry of sanctions comes after the Treasury Department previously unveiled similar sanctions against members of the <a href="https://www.dailywire.com/news/trumps-treasury-dept-launches-sanctions-targeting-sinaloa-cartel">Sinaloa Cartel</a> and <a href="https://home.treasury.gov/news/press-releases/sb0146">Cartel de Noreste</a>. Deputy Secretary of the Treasury Michael Faulkender told The Daily Wire in an <a href="https://www.dailywire.com/news/exclusive-treasury-official-reveals-how-the-trump-admin-is-choking-off-cartels-cash-flow?author=Spencer+Lindquist&amp;category=News&amp;elementPosition=28&amp;row=0&amp;rowType=Vertical+List&amp;title=EXCLUSIVE%3A+Treasury+Official+Lays+Out+How+Trump+Is+Choking+Off+Cash+Flow+To+Cartels">exclusive interview</a> that the sanctions are a key tool in the Trump administration’s fight against the Mexican drug cartels.
“If the money is not flowing back south, then there’s less of an incentive to bring the drugs and the guns and some of the illicit activity up to the north,” he explained.

CJNG Graffiti

Treasury Dept Sanctions Five Key Leaders Of Mexican Drug Cartel

Border

cartel

Crime

Department of the Treasury

Mexico

World

Treasury Secretary Scott Bessent remarked on Thursday that a &#8220;new version of TDS&#8221; seems to have emerged, specifically targeting President Donald Trump&#8217;s tariff policies, and reminded Democrats that they lost the presidential election last year while defending the sitting administration&#8217;s economic policies.
Shorthand for &#8220;Trump Derangement Syndrome,&#8221; TDS refers to a phenomenon characterized by intense negative reactions to Trump, his actions, or his supporters. Republican lawmakers recently <a href="https://www.dailywire.com/news/gop-searches-patient-zero-trump-derangement-syndrome-new-bill" target="_blank" rel="noopener">introduced</a> a bill in the House to begin a study of its origins and identify potential solutions.
During a hearing on Capitol Hill, Sen. Ron Wyden (D-OR) <a href="https://x.com/RichSementa/status/1933185612636463228" target="_blank" rel="noopener">pressed</a> Bessent on whether American consumers are paying the tariffs amid Trump&#8217;s trade war with other countries after pointing out that the secretary himself <a href="https://www.dailywire.com/news/bessent-speaks-to-walmart-ceo-dismisses-draconian-forecast-on-tariffs" target="_blank" rel="noopener">conceded</a> nearly a month ago that retail giant Walmart could pass on price increases to consumers.
<blockquote class="twitter-tweet" data-media-max-width="560">
&#8220;There seems to be a new version of TDS, which I would call Tariff Derangement Syndrome,&#8221; says <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>.
&#8220;Many on your side seem disappointed that there is no inflation &#8230; We saw the best inflation numbers since 2020, so there has been nothing passed on. There has been… <a href="https://t.co/KpYCPlUoA3">pic.twitter.com/KpYCPlUoA3</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1933174639531901157?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
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Bessent accused the Democrat of &#8220;cherry-picking&#8221; to suit a narrative. &#8220;Walmart makes decisions based on their customers&#8221; while he said two other large retailers, Amazon and Home Depot, have chosen not to pass along the cost of tariffs.
&#8220;There seems to be a new version of TDS, which I would call Tariff Derangement Syndrome, and many on your side seem disappointed that there is no inflation today,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/1933174639531901157" target="_blank" rel="noopener">continued</a>. &#8220;As a matter of fact, we saw the best inflation numbers since 2020, so there has been nothing passed on. There has been no tariff recession. So no inflation, no recession due to tariffs.&#8221;
&#8220;Democrats are so out of touch and partisan that they refuse to acknowledge the President’s inflation wins and would actually prefer to see numbers rise,&#8221; Bessent <a href="https://x.com/SecScottBessent/status/1933183375227171099">wrote</a> in a post on X with a clip of his back-and-forth with Wyden.
At another point during the hearing, Bessent chided Sen. Michael Bennet (D-CO) during an exchange in which the Democrat lawmaker was loudly talking about tax cuts.
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> nukes <a href="https://twitter.com/SenatorBennet?ref_src=twsrc%5Etfw">@SenatorBennet</a> on President Trump&#8217;s tax cuts: &#8220;We had a referendum on November 5th on our economic policies. Your side lost.&#8221; <a href="https://t.co/MLQ3AbZ36P">pic.twitter.com/MLQ3AbZ36P</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1933175478455611657?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
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&#8220;Sir, we had a referendum on November 5th on &#8230; economic policies. Your side lost,&#8221; Bessent said.
The secretary kept going, but Bennet started to speak over him.
&#8220;I agree with that, and I&#8217;m a rare Democrat who doesn&#8217;t blame Donald Trump for winning,&#8221; Bennet exclaimed. &#8220;I&#8217;m sad he won.&#8221;
Bessent shot back, &#8220;A higher decibel level does not give your statements more veracity.&#8221;

Treasury Secretary Scott Bessent Testifies To Senate Finance Committee On Treasury Dept’s Budget

Bessent Identifies New Strain Of TDS, Reminds Dems They Lost The Election

Democrats

Inflation

Politics

Tariffs

Trade War

Trump Derangement Syndrome

The audience attending a Capitol Hill hearing audibly <a href="https://x.com/RapidResponse47/status/1932825191752646817" target="_blank" rel="noopener">groaned</a> on Wednesday when a House Democrat suggested Treasury Secretary Scott Bessent had interrupted her because she is a woman.
Bessent attempted to push back against Rep. Linda Sanchez (D-CA) after the lawmaker said prices were rising for &#8220;many everyday goods&#8221; in the wake of the Trump administration&#8217;s trade war with other countries.
&#8220;No, congresswoman —,&#8221; Bessent interjected.
<blockquote class="twitter-tweet" data-media-max-width="560">
SHAMEFUL: <a href="https://twitter.com/RepLindaSanchez?ref_src=twsrc%5Etfw">@RepLindaSanchez</a> baselessly accuses <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> of being sexist because he tried to correct her lie that &#8220;prices are rising.&#8221;
FACT: Under <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>, Americans have seen the first overall price decline since 2020. <a href="https://t.co/mQUe0D9otw">pic.twitter.com/mQUe0D9otw</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1932825191752646817?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bessent sought to continue, apparently pointing to the Consumer Price Index showing that inflation <a href="https://www.axios.com/2025/06/11/cpi-may-2025-trump-inflation?utm_campaign=editorial&amp;utm_medium=social&amp;utm_source=twitter" target="_blank" rel="noopener">slowed</a> in May, but Sanchez wasn&#8217;t having it.
&#8220;Please don&#8217;t interrupt me. The time is mine. The time is mine. Please don&#8217;t interrupt me,&#8221; Sanchez said. &#8220;I will ask you questions and I will grant you an opportunity to answer them, but please don&#8217;t interrupt me during my time.&#8221;
Bessent, who had stopped with his rebuttal, responded: &#8220;With pleasure.&#8221;
However, Sanchez kept going.
&#8220;I know I&#8217;m a woman, but please try to limit yourself to answering my questions,&#8221; Sanchez said.
An uproar of groans ensued, to which Sanchez replied, &#8220;No, I&#8217;m sorry but we get talked over all the time and I don&#8217;t want that to happen at this hearing.&#8221;
The blowback continued on social media.
The X account Libs of TikTok, run by Chaya Raichik, <a href="https://x.com/libsoftiktok/status/1932832882680344650" target="_blank" rel="noopener">said</a> Sanchez &#8220;pretends to be a victim of sexism after getting caught LYING about price increases.&#8221; American Majority founder and CEO Ned Ryan <a href="https://x.com/nedryun/status/1932864560978858247" target="_blank" rel="noopener">quipped</a>, &#8220;Suddenly Dems know what a woman is. Fascinating.&#8221;
The White House&#8217;s &#8220;Rapid Response&#8221; account on X also condemned Sanchez
&#8220;SHAMEFUL: [Sanchez] baselessly accuses [Bessent] of being sexist because he tried to correct her lie that &#8216;prices are rising,'&#8221; it <a href="https://x.com/RapidResponse47/status/1932825191752646817" target="_blank" rel="noopener">said</a>. &#8220;FACT: Under [President Donald Trump], Americans have seen the first overall price decline since 2020.&#8221;
Sanchez shot back at the White House.
&#8220;That&#8217;s not the truth. Even Fox News says that prices are rising due to Trump&#8217;s tariffs,&#8221; the Democrat <a href="https://x.com/RepLindaSanchez/status/1932841985951609345" target="_blank" rel="noopener">said</a> on X.
Sanchez linked to a Fox Business <a href="https://www.foxbusiness.com/economy/consumers-paying-costs-trumps-tariffs-new-york-fed" target="_blank" rel="noopener">article</a> on a Federal Reserve Bank of New York survey from early May that showed businesses saying that some or all the costs of higher tariffs were being passed on to consumers.

Rep. Linda Sanchez (D-CA)

Dem’s Sexism Jab At Treasury Secretary Bombs, Draws Groans During Hearing

U.S. House of Representatives

Members of the House and Senate DOGE Caucuses on Thursday introduced a bill that would require all government agencies to use the kind of database checks espoused by Elon Musk — such as checking a Social Security number against a list of dead people — before issuing payments.
The bill could eliminate much of the $162 billion that the Government Accountability Office estimates the federal government pays improperly each year, they said — an amount <a href="https://www.dailywire.com/news/doge-says-it-saved-more-than-200-billion-in-trumps-first-100-days?author=Luke+Rosiak&amp;category=News&amp;elementPosition=12&amp;row=0&amp;rowType=Vertical+List&amp;title=100+Days+Of+DOGE%3A+Elon+Musk’s+Initiative+Says+It+Cut+%24200+Billion.+What’s+Next%3F">equal to</a> all savings DOGE says it has achieved by cutting contracts, grants, and leases.
It also represents an effort to codify President Donald Trump&#8217;s executive orders, as some conservatives grumble that Congress has not done enough to slash spending.
The “Delivering On Government Efficiency (DOGE) in Spending Act” is likely to pass with widespread support, as it essentially requires transparency and modern good-governance practices. If Democrats oppose it, they would essentially be opposing an effort to stop fraudulent payments.
The bill puts into law one of Musk’s findings, also captured in a Trump executive order: that the Treasury Department, which cuts the checks that other agencies authorize, is well situated to verify whether proposed payments are proper, and stop payment if information from one agency contradicts information from another.
&#8220;Prior to DOGE, Treasury did not put even the most essential information into its computer disbursement systems, which led to hundreds of billions of dollars of spending with no ability to account for basic things like why the payments were made,&#8221; Sen. Joni Ernst (R-IA) said in a statement. &#8220;The Treasury Department was also not empowered to double-check agencies’ work, leading to hundreds of billions of dollars’ worth of fraud and improper payments.&#8221;
Ernst, who chairs the Senate DOGE Caucus, introduced the bill alongside Rep. Aaron Bean (R-FL), who chairs the House DOGE Caucus. The bill has 13 Senate co-sponsors.
The bill comes the same week that the government&#8217;s COVID watchdog released a report titled &#8220;Pre-Award Vetting Using Data Analytics Could Have Prevented Over <a href="https://pandemicoversight.gov/Fraud-Prevention-Alert-Pre-Award-Vetting-Using-Data-Analytics-Could-Have-Prevented-Over-79-Billion-in-Potentially-Fraudulent-Pandemic-Relief-Payments#" target="_blank" rel="noopener">$79 Billion</a> in Potentially Fraudulent Pandemic Relief Payments.&#8221; That number is entirely based on people using Social Security numbers that were either nonexistent or tied to the wrong names to collect Paycheck Protection Program loans, but which were paid out anyway.
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It &#8220;gives Treasury the ability to check relevant databases throughout the government for purposes of confirming eligibility to prevent fraudulent and improper payments. This will break the existing stovepiping that enables fraudsters to defraud multiple programs with the same information because government databases do not talk to one another,&#8221; Ernst said.
Agencies would be required to give Treasury’s “Do Not Pay” system access to relevant data before Treasury could approve their payments, allowing Treasury to automatically check across government agencies for information indicating a payment is improper. For example, Ernst previously exposed how thousands were receiving unemployment checks without the government realizing that they <a href="https://www.dailywire.com/news/thousands-of-pandemic-unemployment-claims-listed-the-names-of-still-employed-government-workers-senator-says" target="_blank" rel="noopener">were employed</a>&#8230;by the government.
Do Not Pay does not currently have access to people’s Social Security numbers, which would serve as an obvious source of truth to verify people’s ages and identities, even though the agency provides a similar tool to private banks.
Treasury would use the National Directory of New Hires to flag whether someone was still unemployed before approving welfare or unemployment payments. It would access Fair Credit Reporting Act information, the data used by credit score agencies, to confirm residency and income.
It would also have access to certain IRS data, including gross income and total Schedule C income, bank account number, and whether a tax return was filed in a particular year. Ernst said tax data would not be provided to Treasury, but rather the computer system would be able to ask the IRS system to answer yes-or-no questions, such as whether a particular person’s income was above a certain amount.
The Government Accountability Office has long warned that some government programs have massive fraud, such as tax returns filed using others&#8217; Social Security numbers to extract Earned Income Tax Credit welfare payments.
Inspectors general estimated in 2023 that fraud and improper payments in COVID bailouts totaled $400 billion. Coronavirus stimulus payments highlighted how the government has paid out billions of dollars without even attempting to verify claims using information that is in the hands of the government itself. For example, a USAID employee received a <a href="https://www.dailywire.com/news/usaid-contracting-officer-charged-with-pandemic-bailout-fraud?author=Luke+Rosiak&amp;category=News&amp;elementPosition=7&amp;row=0&amp;rowType=Vertical+List&amp;title=USAID+Contracting+Officer+Charged+With+Pandemic+Bailout+Fraud">PPP loan for a fake business</a>, even though state corporation records would have shown the LLC was nonexistent, IRS records would have shown it didn&#8217;t make money in previous years, and Office of Personnel Management data would have shown that the person was employed by the government, not a company.
The bill would also require basic information about the purpose of payments to be filled in, instead of left blank, and for the information to be published publicly on the USASpending website.

Joni Ernst

DOGE Caucus Introduces Bill Aimed At $162 Billion In ‘Improper Payments’

DOGE

Elon Musk

Treasury Secretary Scott Bessent challenged CBS journalist Margaret Brennan on Sunday over the potential inflationary impact of President Donald Trump&#8217;s tariffs.
In a &#8220;Face the Nation&#8221; <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-06-01-2025/" target="_blank" rel="noopener">interview</a>, Brennan insisted &#8220;the reality is there will either be less inventory or things at higher prices, or both.&#8221; Bessent shot back, <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-03-02-2025/" target="_blank" rel="noopener">alluding</a> to a previous conversation they had in March, days before Trump unleashed his &#8220;Liberation Day&#8221; tariffs upon the world.
&#8220;Margaret, when we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation,&#8221; Bessent said. &#8220;Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this could happen, and wait and see what does happen.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;When we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation. Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this COULD happen — wait and see what DOES happen.&#8221; 🔥 <a href="https://t.co/1LeTZf2UX1">pic.twitter.com/1LeTZf2UX1</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929188418249965629?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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Earlier, Brennan told Bessent that when he was on the program in March, the two of them were &#8220;trying to gauge&#8221; how American consumers might be affected by the tariffs. She then asked the Cabinet official where he is anticipating price increases.
&#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret. And thus far, there have been no price increases. Everything has been alarmist,&#8221; Bessent said, adding that the &#8220;inflation numbers are actually dropping.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret — and thus far, there have been no price increases. Everything has been alarmist. The inflation numbers are actually dropping. We saw the first drop in inflation in four years.&#8221; <a href="https://t.co/asuc8YnHYZ">pic.twitter.com/asuc8YnHYZ</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929187165830869432?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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A couple of weeks ago, the Labor Department <a href="https://www.dailywire.com/news/inflation-hits-lowest-point-in-over-4-years-as-april-report-better-than-expected" target="_blank" rel="noopener">released</a> data showing that inflation hit its lowest point — 2.3% — in four years, as Trump pursues trade deals with China and other countries hit by tariffs.
Brennan pressed Bessent on retailers such as Walmart, Best Buy, and Target <a href="https://www.cnbc.com/2025/05/31/trump-tariffs-here-are-the-retailers-raising-prices.html" target="_blank" rel="noopener">raising prices</a>. In response, Bessent noted that other companies, including <a href="https://www.axios.com/2025/05/20/home-depot-stock-prices-tariffs" target="_blank" rel="noopener">Home Depot</a> and Amazon, have taken a different tack. And he pointed out, &#8220;I know what the South China Morning Post wrote within the past 24 hours that 65% — 65%! — of the tariffs will likely be eaten by the Chinese producers.&#8221;
&#8220;So are there five or eight areas that you have identified, as you said back in March, where American consumers will be able to have lower prices, or should be warned of higher prices?&#8221; Brennan asked.
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&#8220;Well, a lot of it&#8217;s already working its way through the system,&#8221; Bressent replied. &#8220;So we&#8217;ve seen a substantial decrease in gasoline and energy prices. So that&#8217;s down 20% year over year. We&#8217;ve seen the food prices go down, these notorious egg prices. Through the good work of President Trump and [Agriculture] Secretary [Brooke] Rollins, egg prices have collapsed. So we&#8217;re seeing more and more.&#8221;
He added: &#8220;And what we want to do is even that out across all sections of the economy. So inflation has been very tame. Consumer earnings were up 0.8% last month, which is a gigantic increase for one month. So real earnings minus low inflation is great for the American people, and that&#8217;s what we&#8217;re seeing.&#8221;
Brennen also questioned Bessent about the &#8220;One Big, Beautiful Bill&#8221; that passed through the GOP-led House and is now under consideration by the Republican-controlled Senate.
&#8220;In it is increase or suspension to the debt limit that you need delivered on by mid-July. How close of a brush with default could this be, given how massive some of the Senate changes are expected to be to the other parts of the bill?&#8221; Brennan asked.
&#8220;Well, first of all, Margaret, I will say the United States of America is never going to default. That is never going to happen. &#8230; We are on the warning track and we will never hit the wall,&#8221; Bessent said, adding later, &#8220;We don&#8217;t give out the X date because we use that to move the bill forward.&#8221;
<iframe loading="lazy" title="Scott Bessent &quot;confident&quot; U.S.-China trade details &quot;will be ironed out&quot; when Trump, Xi talk" width="500" height="281" src="https://www.youtube.com/embed/jTK0fDt9K78?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

US Treasury Secretary Scott Bessent Interview

Treasury Secretary Busts ‘Alarmist’ Inflation Predictions

CBS News

Margaret Brennan

President Donald Trump fires back at Vladimir Putin following Russia’s aerial attacks on Ukraine, the Treasury Department reveals a new approach to combating drug cartels, and Hollywood enjoys a record-breaking box office over Memorial Day weekend. 
It’s Tuesday, May 27, and this is the news you need to know to start your day.
Morning Wire is available on video! You can watch today’s episode here:
 
<iframe loading="lazy" title="Trump REBUKES Putin &amp; Cracks Down on the Cartels" width="500" height="281" src="https://www.youtube.com/embed/h-cs4WQyzlc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
&nbsp;
If you’d rather listen to your news, today’s edition of the Morning Wire podcast can be heard below:
&nbsp;
<iframe style="width: 100%; max-width: 660px; overflow: hidden; border-radius: 10px;" src="https://embed.podcasts.apple.com/us/podcast/russia-strikes-again-cartel-crackdowns-5-27-25/id1576594336?i=1000710071254" height="175" frameborder="0" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-storage-access-by-user-activation allow-top-navigation-by-user-activation"></iframe>
<h2>Russia Strikes Ukraine</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-925457" src="https://dw-wp-production.imgix.net/2025/05/5.27.25-Story-Header-01.jpeg" alt="" width="640" height="360" srcset="https://dw-wp-production.imgix.net/2025/05/5.27.25-Story-Header-01.jpeg 640w, https://dw-wp-production.imgix.net/2025/05/5.27.25-Story-Header-01-300x169.jpeg 300w" sizes=" (max-width: 640px) 100vw, 640px" /></div>
Topline: President Trump rails against Russian President Vladimir Putin after he launches another aerial attack on Ukraine.
Over the weekend, Russia launched a series of air assaults on Ukrainian cities, deploying hundreds of attack drones and dozens of missiles. Those strikes killed at least 12 people and injured dozens more — many civilians — in what Ukraine <a href="https://www.reuters.com/business/aerospace-defense/russian-drone-fragments-set-kyiv-apartment-building-ablaze-official-says-2025-05-24/">called</a> the most extensive aerial bombardment of the three-year war. 
In recent months, there had been hopes that a peace deal was within reach, but Putin appears to be making clear that he’s pushing ahead, despite increased threats of sanctions from the West. Ukrainian intelligence <a href="https://ca.news.yahoo.com/russias-casualties-war-against-ukraine-095937828.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAM3atsZc41kCSRMKSfurjA_lU-16DhBVMjma8L5udzrwkvFa0KgXegrcgN4PLiL5kMS7G5o-tI97OUCDDVv0q_D28ERp7U8aWOO1ONbadwbiQg0sOb-32woFiDBFhUNANBcGjAoYOUBI1FcOyeD46QfZpkI09tXrEb_Zwy9CY8KJ">reportedly</a> shows that Moscow is gathering forces near the front line in preparation for a summer offensive. 
In response to those attacks, President Trump offered his <a href="https://x.com/yashar/status/1926775198956572815">strongest condemnation</a> of Putin to date. “I don&#8217;t know what the hell happened to Putin. I&#8217;ve known him a long time, always gotten along with him, but he&#8217;s sending rockets into cities and killing people, and I don&#8217;t like it at all. Okay, we&#8217;re in the middle of talking and he&#8217;s shooting rockets into Kiev and other cities.“ Later, on social media, the president appeared to make a veiled threat against Putin, <a href="https://truthsocial.com/@realDonaldTrump/posts/114571369956761390">writing,</a> “I’ve always said that he wants ALL of Ukraine, not just a piece of it, and maybe that’s proving to be right. But if he does, it will lead to the downfall of Russia!” 
However, this new anti-Putin rhetoric hasn’t exactly led to friendlier relations with Ukraine. Trump also said over the weekend that “Zelensky is doing his country no favors by talking the way he does. Everything out of his mouth causes problems.” 
Meanwhile, on Friday, Trump accused the Europeans of being “difficult to deal with” during trade negotiations, saying “discussions are going nowhere.”  The president threatened a 50% tariff that would kick in on June 1. That seemingly got their attention, as European Commission President Ursula von der Leyen called the White House over the weekend to say “Europe is ready to advance talks swiftly and decisively.” As a result of that new willingness to make a deal, Trump agreed to <a href="https://www.dailywire.com/news/trump-delays-50-tariffs-eu-leader-blinks?author=Daniel+Chaitin&amp;category=News&amp;elementPosition=8&amp;row=3&amp;rowHeadline=Latest+News&amp;rowType=Vertical+Carousel&amp;title=Trump+Delays+50%25+Tariffs+On+EU+After+Its+Leader+Blinks">pause</a> his tariff hike until July 9 so an agreement could be reached. 
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<h2>Freezing Cartel Funds</h2>
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Topline:  Trump enlists the Treasury Department in his sweeping crackdown on drug cartels.
President Trump promised a “whole of government” approach to combating drug cartels. While the Department of Homeland Security, Immigration and Customs Enforcement, and the Border Patrol have obvious roles to play, the Treasury Department is taking steps to crack down on money laundering.
“One of the most important things that the president did upon coming into office was to declare a number of the narco groups terrorist organizations,” Deputy Treasury Secretary Michael Faulkender told The Daily Wire. “[That] unleashes additional authorities at Treasury for us to better target some of the financial activities that these cartels are engaging in. It&#8217;s one thing to have our partners at DHS work on stopping the flow of people and drugs, but we can also use our financial tools to go after the money – because if the money is not flowing back south, then there&#8217;s less of an incentive to bring the drugs and the guns and some of the illicit activity up to the north.”
Among other things, Faulkender explained why Brinks Global was fined $37 million. “There is a statute called the Bank Secrecy Act that requires that if you&#8217;re going to facilitate transfers of monetary sums, that you need to know who the party is that is receiving this money, that is engaging in this transaction. And so what we did is our Financial Crimes Enforcement Network, which is called FinCEN, they launched an investigation into how this money was flowing south of the border – and found that Brinks had facilitated some of these money transfers without knowing who the parties were that were participating in this transaction.”
For the full interview, check out the Morning Wire podcast.
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<h2>Box Office Bonanza</h2>
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Topline: The box office for the holiday weekend blew away expectations. Disney’s live-action &#8220;Lilo &amp; Stitch&#8221; and Paramount’s &#8220;Mission: Impossible 8&#8221; set records to kick off the summer blockbuster season.
&#8220;Lilo &amp; Stitch&#8221; and &#8220;Mission: Impossible – The Final Reckoning&#8221; provide a much-needed shot in the arm for theaters nationwide. According to studio estimates, &#8220;Lilo &amp; Stitch&#8221; grossed a staggering $183 million domestically. That’s an all-time Disney record for this time frame. Its global haul was $342 million. Meanwhile, &#8220;Mission: Impossible&#8221; brought in a franchise-best $77 million domestically and $190 million worldwide. Taken together, Hollywood hopes this is a game-changer for an industry that’s been fighting to regain that pre-pandemic momentum.
Social media buzz for &#8220;Lilo &amp; Stitch,&#8221; especially from younger women and parents, has been off the charts with an “A” CinemaScore signaling strong word-of-mouth. Posts on X captured the excitement, with fans showing up in Stitch merch and plushies, turning screenings into events. This kind of cultural resonance is exactly what Disney banks on with its IP-driven strategy – sometimes successfully, <a href="https://www.dailywire.com/news/snow-white-bombs-with-one-of-disneys-lowest-opening-weekends-for-a-remake">sometimes not</a>.
While it didn’t reach the heights of &#8220;Lilo &amp; Stitch,&#8221; &#8220;Mission: Impossible – The Final Reckoning&#8221; is unquestionably a triumph for Tom Cruise. The film’s opening beat the previous franchise record set by &#8220;Mission: Impossible – Fallout&#8221; in 2018 by $14 million, not adjusted for inflation.
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