It turns out that when President Joe Biden and Sen. Bernie Sanders call out "oligarchs" in the tech industry, they're only talking about people they don't like, not oligarchy as a whole. Sanders discovered the difference after an ugly exchange with President-elect Donald Trump's Treasury secretary nominee.

Bessent spoke before the Senate Finance Committee about his economic vision for America, addressing key issues like tax policy, inflation and wealth inequality.

Trump's promised tax cuts, and their potential consequences for the U.S. economy, took center stage at Bessent's confirmation hearing.