Scott Bessent, nominee for U.S. Treasury Secretary, cleared a key Senate hurdle this week, bringing him closer to confirmation. His leadership could influence fiscal policies, including tax cuts and trade tariffs, aligning closely with President Trump’s agenda. In other news, Apple reported strong earnings, and Tesla slashed EV prices.
Equifax faces a $15M fine for mishandling credit disputes, while mortgage rates hit 7%, squeezing homebuyers. Mid-sized banks report strong Q4 profits, fueled by fee income. Inflation cooled in December, but core prices remain sticky. JPMorgan’s earnings soar as investment banking rebounds.