A move to deny backpay to up to 750,000 furloughed workers would dramatically escalate Trump's pressure on Democrats to end the shutdown.

WASHINGTON – Secretary of the Treasury Scott Bessent announced today a key appointment for a senior position at the U.S. Department of the Treasury.Derek Theurer will perform the duties of Deputy Secretary of the Treasury. He joined the Department in January as Counselor, assisting Secretary Bessent with global tax negotiations and enactment of President Trump’s historic tax cuts for working families and job creators. In March, he was nominated to be Deputy Under Secretary of the Treasury for Legislative Affairs.“Derek’s leadership and sound counsel have been critical as the Treasury Department works to implement President Trump’s pro-growth agenda,” said Secretary of the Treasury Scott Bessent. “His ongoing commitment to serving the American people, deep policy acumen and legislative expertise, as well as years of operational experience make him the ideal person to perform the duties of Deputy Secretary. I appreciate his continued service on my team as we address issues vital to the success of the economy.”Mr. Theurer graduated summa cum laude from Utah State University with a bachelor’s in accounting. He holds a J.D. from UCLA School of Law and an L.L.M. in Taxation from NYU School of Law. ###

The U.S. Treasury used its Exchange Stabilization Fund (ESF) during the pandemic, and in October 2025, proposed to tap it to help Argentina.

Polymarket | This market will resolve according to the next individual Donald Trump, as President of the United States, formally nominates to be Chair of the...

Join us for a discussion about the importance of understanding inflation expectations for businesses and consumers.

Dan Tarullo was the Fed's point person on bank supervision and regulation from 2009 to 2017. David Wessel talked with him in July 2023 to get his take on recent developments in the banking business.

WASHINGTON — Today, U.S. Secretary of the Treasury and Acting Commissioner of the Internal Revenue Service Scott Bessent announced that Commissioner of the Social Security Administration Frank Bisignano will serve as Chief Executive Officer (CEO) of the IRS. In this newly created position, Mr. Bisignano will report directly to Acting Commissioner Bessent, managing the organization and overseeing all day-to-day IRS operations while also continuing to serve in his role as Commissioner of the Social Security Administration.“Frank is a businessman with an exceptional track record of driving growth and efficiency in the private and now public sector,” said Secretary of the Treasury Scott Bessent. The IRS and SSA – two of the most public-facing and broadly impactful federal agencies – also share many of the same technological and customer service goals. This makes Mr. Bisignano a natural choice for this role. “Under his leadership at the SSA, he has already made important and substantial progress, and we are pleased that he will bring this expertise to the IRS as we sharpen our focus on collections, privacy, and customer service in order to deliver better outcomes for hardworking Americans.”Frank J. Bisignano, the 18th Senate-confirmed Commissioner of the U.S. Social Security Administration, is a proven leader with more than four decades of experience guiding some of the world’s largest financial institutions and technology companies through transformation and growth. Prior to leading SSA, Bisignano served as Chairman and CEO of Fiserv, the world’s largest financial services and payment technology company. In 2019, he led the merger of Fiserv and First Data while he was serving as CEO of the latter company. While at J.P. Morgan Chase in the 2000’s, Bisignano was the co-Chief Operating Officer and served as the CEO of its Mortgage Banking unit. He also previously held several roles at Citigroup, including Chief Administrative Officer and CEO of the company’s Global Transaction Services unit.###

The White House is reportedly seeking to move forward with a planned relocation of the Discovery space shuttle from its longtime home in Chantilly to Texas. The Office of Management and Budget (OMB) h...