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Investing.com -- Treasury Secretary Scott Bessent announced Tuesday that the Treasury Department is currently collecting record tariff revenues, with expectations for a further increase next month.
"Think we’ll see tariff revenue jump in September," Bessent stated during a cabinet meeting held today.
The Treasury Secretary did not provide specific figures regarding the current tariff collection levels or the projected increase for September.
During the same meeting, Bessent also addressed the Federal Reserve’s position in the government framework, noting that "Fed independence comes from a political arrangement." He emphasized that public trust is fundamental to the central bank’s effectiveness, stating that "public trust gives Federal Reserve its credibility."
The comments come as the Treasury Department continues to monitor trade policy impacts on government revenue streams.
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