Trump's Treasury Nominee Vows To Protect Dollar | JPMorgan's Biggest Annual Profit

Scott Bessent, President-elect Trump's pick for Treasury Secretary, has pledged to ensure the dollar remains the world's reserve currency. In prepared Senate testimony Bessent emphasised the need for productive investments to usher in a "new economic golden age," while criticising wasteful spending. In another development, JPMorgan Chase on Wednesday posted record annual profit as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter. The bank also forecast net interest income, or the difference between what it earns on loans and pays out on deposits, for 2025 above analysts' expectations, despite issuing repeated warnings that it may not sustain the level of growth. Watch The World Report for the latest updates.