“What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent told CNBC on July 21.

The Trump administration is set to implement significant changes to the Federal Reserve, aiming to reshape the world's most powerful central bank. With plans already underway, these changes promise to alter the landscape of U.

A proposed 50% tariff on Brazilian coffee beans imported to the U.S. is worrying coffee-shop owners, who are scrambling to find another source and risk passing on costs to customers.