Topic: Treasury Auction

Hedge fund manager and Trump donor Paul Singer completed an acquisition of Citgo Petroleum following a court-backed auction process. The US Treasury must still approve the deal, which aims to provide redress to creditors of the Venezuelan government while transferring refinery assets to American ownership.

Kevin Hassett is reportedly the frontrunner to replace Jay Powell as Chairman of the Federal Reserve. Markets responded positively to the rumors, leading to a successful Treasury auction and lower interest rates. Hassett emphasized that the next Fed chair should focus on making car loans and mortgages more accessible to the American people.

Barack Obama held a press conference regarding the federal debt ceiling, which the hosts characterize as a staged competition for public credit. The discussion critiques the administration's use of "Armageddon" rhetoric to justify raising the credit limit and questions the validity of "saved or created" job statistics from the Recovery Act. Curry highlights a CBS News poll showing public opposition to raising the debt limit despite warnings of economic catastrophe.