Story perspectives

US, Gulf, Asia Pursue Swaps; Warsh Confirmation Delays

4/26/2026

Summary

Story summary

U.S. Secretary Scott Bessent told lawmakers on April 22, 2026 that the United States is discussing currency swap lines with Gulf allies.
Asian partners also seek similar swap lines amid the Iran war fallout.
Many requestors have pristine sovereign balance sheets and large dollar holdings.
Expansion may await confirmation of President Donald Trump's Federal Reserve (Fed) chair nominee Kevin Warsh, who discussed deeper Treasury cooperation at his Senate hearing.

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Story summary

U.S. Secretary Scott Bessent told lawmakers on April 22, 2026 that the United States is discussing currency swap lines with Gulf allies.
Asian partners also seek similar swap lines amid the Iran war fallout.
Many requestors have pristine sovereign balance sheets and large dollar holdings.
Expansion may await confirmation of President Donald Trump's Federal Reserve (Fed) chair nominee Kevin Warsh, who discussed deeper Treasury cooperation at his Senate hearing.