79th United States Secretary of the Treasury
Joined February 2025
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The North Korean regime continues targeting and exploiting American companies through fraudulent activities conducted by its overseas IT operatives, who weaponize sensitive data and extort businesses for substantial payments. Under President Trump’s leadership, Treasury will continue to use all available tools to protect U.S. businesses from these malicious activities and hold those responsible accountable.
Today, Treasury’s Office of Foreign Assets Control sanctioned 10 individuals and one entity for their roles in Democratic People’s Republic of Korea (DPRK) government-run IT worker schemes that defraud U.S. businesses and generate revenue for the DPRK’s unlawful weapons of mass destruction and ballistic missile programs. The DPRK continues to rely on fraudulent documents, stolen identities, and fabricated personas to conceal its IT workers and secure employment with legitimate companies, including those in the United States and allied countries.
home.treasury.gov/news/press…
Today, the United States makes good on President Trump’s promise to hold Rwanda accountable for its commitments under the Washington Accords for Peace and Prosperity. Rwanda must halt its support for M23 and withdraw its troops from eastern DRC.
Treasury’s Office of Foreign Assets Control imposed sanctions on the Rwandan Ministry of Defence and Zigama Credit and Savings Society, a Rwandan financial institution that has played a key role in facilitating Rwanda’s support for the March 23 Movement and its political wing, the Congo River Alliance.
home.treasury.gov/news/press…
More than 1 million private-sector jobs have been created since Inauguration Day, while the federal workforce has shrunk by 328,000, bringing it to its lowest level since the 1960s.
.@BarackObama I recommend the Cheeseburger Spring Rolls.
President Trump’s tax, trade, and regulatory policies are clearing the way for companies to build, invest, and hire in America.
We have added 72,000 manufacturing jobs so far this year, after losing more than 200,000 in Biden’s final two years. Blue-collar manufacturing workers are also earning more: their weekly wages are up 3.5 percent after adjusting for inflation since President Trump took office.
Despite Iran’s efforts to disrupt energy shipments, oil exports from the Persian Gulf are roaring back and have surpassed pre-conflict levels.
The message is clear: Iran’s threats have failed to stop the flow of energy to global markets.
President Trump’s pro-growth agenda is delivering for American families and workers.
In 2025, the official poverty rate fell to its lowest recorded level, and real median household income reached an all-time high, rising 2.6 percent—more than the 1.9 percent gain over all four Biden years combined.
Treasury launched Operation Economic Outcast to tighten the noose and block every potential source of revenue that funds the IRGC and murderous Iranian regime.
Less than two months later, we have decimated every layer of Iran’s oil lifeline. Its shadow tanker fleet stands depleted. Its main oil terminal sits empty. And its offshore reserves are now exhausted. Meanwhile, ordinary Iranians continue to endure a deepening economic crisis because the regime squanders its resources on violence and terrorism abroad instead of the prosperity of its people at home.
As President Trump takes action that his predecessors long deferred, the United States is no longer managing the Iranian threat. We are ending it.
Treasury Secretary Scott Bessent retweeted
The American Dream doesn’t belong to Wall Street. It belongs to the American people.
Thanks to President Trump and Scott Bessent, families don’t have to worry about getting out-bid on their dream homes by private equity barons. And we’re making those same big investors give financial support to families buying their first homes.
home.treasury.gov/news/press…
I was pleased to meet with Paraguayan President Santiago Peña to discuss the growing economic partnership between the United States and Paraguay.
We reaffirmed our shared commitment to strengthening economic cooperation and advancing secure and resilient critical minerals supply chains.
Before: tankers filled Iran’s main oil-loading terminal.
After: no crude tankers in sight.
Kharg Island is now nothing more than a monument to the one thing the Iranian regime can still produce: failure.
The regime’s arrogance and belligerence continue to punish ordinary Iranians. Operation Economic Outcast is cutting off the regime’s oil lifeline, denying it resources to fund terrorism, nuclear procurement, and the lavish lifestyles of the IRGC elite.
Under President Trump, this Administration continues to restore the path to affordable homeownership for millions of young and working families. Treasury is working to ensure American families and workers have a fair shot at purchasing homes in their communities by increasing housing supply and limiting large institutional investors’ role in the market, while supporting a strong, stable housing market and avoiding unnecessary disruption.
home.treasury.gov/news/press…
Whether you are conducting illegal oil transfers at sea or sitting in the corner office of a law firm, if you are supporting the Iranian regime, we will find you and sanction you. Iran’s facilitators must make a choice: Either you are with us or against us. We know who you are, we know what you’re doing, and we will continue to take action.
Today, as part of Operation Economic Outcast, Treasury sanctioned Panama- and Greece-based law firm Karnakis and Karnakis, shipping agents, and vessels which have supported illicit Iranian shipping activity, indirectly aiding Tehran’s ability to generate revenue to fund its military, weapons, and nuclear programs. Throughout Operation Economic Outcast, Treasury has continued to coordinate with counterparts in Europe and around the world to sever the Iranian regime’s remaining economic lifelines.
home.treasury.gov/news/press…
The GENIUS Act marks a watershed moment in American finance, further cementing the United States as the crypto capital of the world. Just as President Abraham Lincoln’s National Currency Act of 1863 established a national framework for bank-issued currency, the GENIUS Act establishes a federal framework for payment stablecoins in the digital age.
The @USOCC's final rule carries that landmark legislation forward, providing a clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets.
The U.S. economy is expanding thanks to @POTUS’ proactive trade policies, deregulation, and pro-growth provisions in the Working Families Tax Cuts.
Revised GDP data show stronger growth in Q1 and Q2 of 2026, driven in part by greater consumer spending and investment. Forecasters expect that momentum to build in Q3.
The Trump Administration is delivering on its promises by restoring durable growth, unleashing investment, and powering the reindustrialization of the American economy.
Thank you, @elonmusk, for investing in the next generation. More than $8 billion has already been deposited into children’s accounts, and this extraordinary donation will push that total even higher.
As @TrumpAccounts continues to grow we look forward to more philanthropists joining the movement and helping children across America jumpstart their financial future.
For more information, please visit TrumpAccounts.gov and download the Trump Accounts app to claim your child’s account today. 🇺🇸
Federal student aid is intended to expand educational opportunities, not line the pockets of fraudsters who steal from students pursuing their education and hardworking taxpayers. The Trump Administration will not tolerate criminals who exploit government programs for personal gain. Treasury is working with financial institutions and law enforcement to identify these fraud schemes, recover stolen funds, and hold those responsible accountable.
Today, Treasury announced that @FinCENnews has identified approximately $270 million in suspicious financial activity potentially linked to fraud against federal student aid programs. FinCEN has referred these findings to federal investigators to pursue potential fraud schemes targeting federal student aid programs and help ensure those responsible are held accountable.
These referrals underscore the Trump Administration’s commitment to eliminating fraud, protecting taxpayers, and safeguarding the integrity of federal student aid programs.
I am taking @VP’s Pledge to Protect Americans from Fraud. At Treasury, we follow the money.
Over the past year, Treasury returned $175 million in payments that would have gone to deceased individuals and expanded Do Not Pay access to 99% of federal programs. Further, we stopped almost $190 million and returned over $100 million in funds that had gone overseas to U.S. victims. We ordered an audit of approximately $9 billion in Treasury contracts. And Treasury and the IRS proposed stronger eligibility checks for health insurance tax credits.
In Minnesota, we took targeted measures to help ensure that taxpayer dollars reach the vulnerable Americans they are meant to support. And we continue working with U.S. banks to prevent government benefits fraud before it happens.
But fraud does not stop at our borders, and neither do we. Overseas scam networks and cartels that prey on elderly Americans with fraud schemes are now sanctioned by the United States. Treasury is also making it easier for those with firsthand knowledge of fraud to expose it by accepting confidential whistleblower tips and offering cash rewards. If these fraudsters want to turn on each other, we welcome the assistance.
The Trump Administration will not allow criminals, at home or abroad, to profit from programs intended to help vulnerable Americans.
home.treasury.gov/whistleblo…
