Bloomberg News Now US Could Recognize Crimea, Bessent Replaces Acting IRS Head, More
Apr 19, 2025
The discussion covers potential U.S. recognition of Crimea and significant changes in IRS leadership. It delves into how Federal Reserve strategies impact the economy and the growing trend of thrift shopping amid rising tariffs. Insights into consumer behavior highlight the benefits of secondhand shopping, while addressing challenges faced by the U.S. Treasury Secretary in maintaining investor confidence in a shaky market.
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U.S. May Recognize Crimea Control
- The U.S. could recognize Russian control over Crimea as part of a peace deal with Ukraine.
- This contrasts with international reluctance to legitimize Russia's 2014 annexation of Crimea.
IRS Leadership Shakeup
- Treasury Secretary Scott Bessent appointed Michael Falkander as acting IRS commissioner amid controversy.
- Trust must be restored after reports of Elon Musk influencing IRS leadership without Bessent's knowledge.
Trump Critiques Fed's Political Moves
- Trump's criticism of Fed Chair Powell reflects frustration over rate policy favoring Democrats.
- His economist claims the Fed acted politically by cutting rates before the 2020 election.