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Treasury Secretary Scott Bessent has a new plan in the fight to bring down historically high interest rates, and it’s got nothing to do with the Federal Reserve.

HOUSTON (Reuters) -Growth in oil output from the U.S. Permian basin, the country's top oilfield, is expected to slow by at least 25% this year despite President Donald Trump's vow to maximize production, energy executives forecast on Thursday. At a conference in Houston, they said production is expected to rise in 2025 by about 250,000 barrels per day (bpd) to 300,000 bpd from the shale formation spread across Texas and New Mexico, down from last year's 380,000-bpd increase. That forecast aligns with the U.S. Energy Information Administration's projection of a 300,000-bpd rise.

President Donald Trump's crackdown on the border could stifle a surge of immigration that gave an $8.9 trillion boost to the economy, according to one recent analysis.

(Bloomberg) -- Federal Reserve Governor Christopher Waller said he’s supportive of stablecoins because they are likely to propagate the dollar’s status as a reserve currency, though they need a clear set of rules and regulations.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneTransportation Memos Favor Places With Higher Birth and Marriage RatesState Farm Seeks Emergency California Rate Hike After

(Bloomberg) -- Oil edged down as US President Donald Trump’s renewed pledge to drive down the price of crude overshadowed his push for tighter Iranian sanctions.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneTransportation Memos Favor Places With Higher Birth and Marriage RatesState Farm Seeks Emergency California Rate Hike After FiresHow London’s Taxi Drivers Navigate the City Without GPSWest Te

Federal workers have a big decision to make on Thursday. That’s the deadline for accepting the Trump administration’s deferred resignation offer, which will allow them to quit their federal job while still being paid through September.

The Trump administration's emerging focus on long-term Treasury bond yields may show growing sensitivity to market constraints that could impede President Donald Trump's economic plans, while also getting the Federal Reserve out of his direct line of fire. Yields on 10-year Treasury notes, influential in determining borrowing costs for everything from the $12.6 trillion U.S. mortgage market to $5.8 trillion in bank lending to businesses as well as the government's own interest bill, are up more than three-quarters of a percentage point even as the Fed has cut its short-term interest rate by a full percentage point since September. Fed officials, noting the anomaly and saying it's not something they have much control over, have offered a number of reasons for that divergence: From concerns about high U.S. government deficits, to lingering above-target inflation, to a global reset of post-pandemic financial conditions.