Overview
- A House Financial Services hearing collapsed into shouting as Rep. Maxine Waters told Treasury Secretary Scott Bessent to "shut up," prompting repeated chair interventions to enforce decorum.
- Rep. Gregory Meeks pressed Bessent to pause and intensify scrutiny of any OCC licensing tied to World Liberty Financial; Bessent cited the OCC’s independence and declined to commit.
- The questioning followed reports that World Liberty Financial sold a $500 million stake to an Emirati royal family member days before the 2025 inauguration, raising conflict‑of‑interest concerns.
- In a Senate Banking session, Sen. Elizabeth Warren asked Bessent to rule out presidential legal action against Fed nominee Kevin Warsh; Bessent said it was up to the president and called Trump’s remark a joke.
- Bessent acknowledged that any damages from President Trump’s $10 billion lawsuit against the IRS would be paid from Treasury funds, as Democrats also challenged his defense of tariffs and claims about grocery prices.