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Bessent pitches US-backed financial literacy competition to world’s largest economies
Bessent is promoting a G20 competition to find digital financial literacy tools, with four finalists and up to two winners to be recognized in Bangkok.
- On Tuesday, Treasury Secretary Scott Bessent announced U.S. sponsorship for the Financial Literacy Solutions Sprint while hosting finance ministers from the G20.
- Driven by his experience with poverty in South Carolina, Bessent proposed Trump Accounts—providing $1,000 for babies born during President Donald Trump's second term—as a global model.
- Treasury data shows roughly 7 million children are enrolled in the program, with 86% of participants from families earning less than $200,000 per year.
- Julie Morgan, CEO of the Century Foundation, argued Americans cannot "educate themselves out of their current financial crises" when struggles stem from "decisions that Scott Bessent himself has made." About 7 in 10 adults call the economy "poor."
- Four finalists will be recognized at World Bank and International Monetary Fund meetings in Bangkok for developing "innovative technology- and data-enabled solutions" to strengthen financial literacy.
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Coverage Details
Total News Sources7
Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 43%
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