Overview

• Scott Bessent testified before the House Financial Services Committee on the state of international financial systems, advocating for reforms to the World Bank and IMF.
• During the hearing, Bessent and Rep. Maxine Waters exchanged lighthearted remarks about a past meeting at a New Year’s Eve party in the Bahamas.
• Bessent noted that Waters was better at the 'Electric Slide' and shared greetings from the Prime Minister of the Bahamas, Philip Davis.
• Waters pressed Bessent on his lack of responses to five letters regarding Treasury leadership issues, calling for greater accountability.
• The testimony highlighted tensions between Congress and the Treasury Department while addressing broader concerns about international economic challenges.