Proposed $250 bill would mark the first time a living person has appeared on US currency in more than a century.
Published On 29 May 202629 May 2026
US Secretary of the Treasury Scott Bessent says preparations are under way to print a new $250 banknote featuring President Donald Trump’s face, with lawmakers to decide whether the bills will be put into circulation.
US law bars any living person from appearing on US currency, but legislation was introduced last year to create an exception to allow current and former presidents to be featured.
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Speaking at the White House on Thursday, Bessent said a design had been prepared in anticipation of a change in the law.
“Right now, there is proposed legislation – front of the House, in front of the Senate – to change the first requirement so that a living person, Donald J Trump, could be on a $250 bill,” Bessent said.
Bessent made his comments after The Washington Post reported that Treasurer Brandon Beach, a Trump appointee, has been pushing the Bureau of Engraving and Printing to expedite the process for a new currency note to mark the 250th anniversary of the Declaration of Independence.
“I don’t think that there’s anything untoward about having the president of the United States, the person who’s president of the United States, on the 250th anniversary bill,” Bessent told reporters.
A design mock-up obtained by The Washington Post showed the words “America 250 anniversary”, a nod to the US declaring its independence on July 4, 1776.
The Treasury Department did not immediately respond to Al Jazeera’s request for comment.
Behaviour of dictators, monarchs
A banknote featuring Trump’s face would be the latest example of the US president expanding his personal brand in his official capacity since returning to the White House in 2025.
Banners featuring Trump’s portrait have been hung on the Department of Justice and other federal buildings.
And his slate of appointees to the Kennedy Center governing board added his name to the national performing arts facility, which Congress originally designated as a memorial to assassinated President John F Kennedy.
Trump’s signature is also set to appear on US currency as part of plans to mark the 250th anniversary, a first for a sitting president.
US banknotes have until now featured the signatures of the Treasury secretary and the treasurer.
In March, the US Commission of Fine Arts, led by Trump appointee Rodney Mims Cook Jr, approved the minting of a commemorative gold coin bearing the Republican president’s image.
The announcement, which relied on a legal loophole for commemorative coins, prompted a backlash from critics, who likened the move to the behaviour of dictators and monarchs.
ATLANTA — Treasury Secretary Scott Bessent said Thursday that his department has prepared the design for a $250 bill featuring President Trump, anticipating the passage of stalled legislation in Congress to put the president on a new denomination of legal tender.
Bessent said at the White House that authorizing the currency will be up to lawmakers on Capitol Hill, but that “we’ve created the bill” because “we have to be prepared.”
The secretary downplayed the idea that the administration is pushing the matter, despite Trump’s penchant for infusing his name and likeness across the nation’s capital and into the observances of the 250th anniversary of the Declaration of Independence. Bessent also insisted there is nothing inappropriate about Trump’s visage being part of the seminal national celebration.
“The president doesn’t do it; the House and the Senate have to do it,” Bessent said at the White House, referring to legislation, introduced by Rep. Joe Wilson (R-S.C.), that would direct the Treasury Department’s Bureau of Engraving and Printing to put Trump’s face on the new bill to mark the 250th anniversary of the nation’s founding.
A Treasury Department spokeswoman said the agency carried out “appropriate planning and due diligence” to implement a potential congressional mandate “to produce a $250 commemorative note which will appropriately recognize the 250th Anniversary of our great nation.” The spokeswoman did not mention Trump.
If passed and signed into law by Trump, Wilson’s bill would mark an extraordinary recognition for a sitting U.S. leader and comes as Trump has sought to place himself at the center of Independence Day commemorations. The Department’s preparation for the languishing legislation suggests some enthusiasm for the idea on the part of the Trump administration.
Report: Trump ally has pushed to expedite new currency
The agency’s explanation follows a Washington Post report stating that U.S. Treasurer Brandon Beach, a Trump appointee, has been pushing the Bureau of Engraving and Printing to expedite the process for a new currency note. The paper also reported that the former BEP chief, Patricia Solimene, was reassigned after pushing back.
The Treasury spokesperson declined to comment on Solimene’s status but confirmed that Michael Brown, a top Beach aide, became acting director of engraving and printing May 18.
Beach did not respond to an Associated Press request for comment.
Wilson’s legislation, which so far has languished in Congress, is intended to create an exception to existing law that bars any living person from appearing on U.S. currency; the bill would allow current and former presidents to be featured.
Bessent confirmed the measure is designed for one person.
“Donald J. Trump,” he said emphatically, repeating the full name that the president himself often uses in the third person.
According to the Post report, Beach last fall provided the Bureau of Engraving and Printing with the design for the new bill. It featured Trump’s portrait — the same one that adorns banners hanging on some federal buildings in Washington — and a 250th anniversary logo. Trump’s signature also was included, a design element that would differ from other paper money.
British artist Iain Alexander told the Post he designed the bill and said he’d discussed it with the president. Alexander did not respond to an AP request for comment.
The newspaper also reported that Solimene resisted pressure from Beach and Brown and stressed to them the lengthy legal and procedural process required to issue new currency. Solimene was reassigned against her will, the Post reported, paving the way for Brown to oversee the bureau.
Trump has aggressively spread his name and likeness
A new currency note would be the latest example of Trump expanding his personal brand in his official capacity since returning to the White House last year.
Beach and Bessent already streamlined approval of a commemorative 250th anniversary coin featuring Trump. The Treasury Department has asserted that those special coins fall outside the prohibition on living presidents appearing on money. In 1926, the nation’s 150th anniversary, then-President Calvin Coolidge appeared on a commemorative half-dollar coin that was official legal tender.
The Trump administration has had banners featuring his portrait hung on the Department of Justice and other federal buildings. And his slate of appointees to the Kennedy Center governing board added his name to the national performing arts facility that Congress originally designated as a memorial to assassinated President John F. Kennedy. That renaming is being challenged in court because of the federal law establishing the center as the official memorial to the 35th president.
Bessent noted that unless Wilson’s exception passes, current law sets just two conditions for him to consider on currency: that “In God We Trust” is printed somewhere on it, and that only deceased individuals be depicted, with their names described below their portraits.
“It’s all up to Capitol Hill,” Bessent said. “We will stick to the law.”
A top US official says Oman should know that Washington ‘will aggressively target’ actors that facilitate tolls in waterway.
Published On 28 May 202628 May 2026
The United States has warned that it would “aggressively” impose sanctions on Oman if it helps Iran establish a tolling system in the Strait of Hormuz, intensifying President Donald Trump’s threats against the Gulf ally.
US Treasury Secretary Scott Bessent said on Thursday that Washington will “not tolerate” either country imposing fees on commercial ships in the strategic waterway.
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“Oman, in particular, should know that the US Treasury will aggressively target any actors involved — directly or indirectly — in facilitating tolls for the Strait and any willing partners will be penalized,” Bessent said in a social media post.
“All nations should reject outright any efforts by Iran to disrupt the free flow of commerce. Tehran’s days of terrorizing the region and the world are over.”
The statement comes less than 24 hours after President Trump threatened to bomb Oman, a key US ally known for its neutrality and mediation efforts in regional crises, including the war between the US and Iran.
While Iran has suggested that the governments in Tehran and Muscat could jointly manage the Hormuz Strait, Oman has not said that it is seeking control over the waterway, parts of which flow through its territory.
It is not clear what is driving Washington’s recent posture toward Oman. It is highly unusual for the US to threaten sanctions and military action against a close security and economic partner.
Since the US and Israel started bombing Iran without direct provocation on February 28, Iran has closed the strait and claimed sovereignty over it.
Around 20 percent of the world’s oil flowed through Hormuz before the conflict, so the Iranian blockade has put a major strain on energy supplies, sending prices soaring.
The US and Iran have been indirectly negotiating to reach an agreement for a comprehensive end to the war, and control over the Hormuz Strait has emerged as a major point of disagreement.
Trump has stressed that the strait must be a free passageway.
When asked whether he would accept joint Iranian-Omani control over the strait in the short term, the US president told reporters on Wednesday: “Nobody is going to control it. It’s international waters, and Oman will behave just like everybody else, or we will have to blow them up.”
Ali Bagheri, deputy secretary of Iran’s Supreme National Security Council, said on Thursday that Tehran will not allow Hormuz to be a source of insecurity for the country.
“The powers that have used this passage against Iran’s security must be held accountable,” he was quoted as saying by Iran’s public television.
Bagheri added that Iran seeks to “establish a just order that negates hegemony and domination and strengthens trust and cooperation” in the region.
The advent of autonomous treasury has ignited a competitive push, complete with aggressive industry targets. Not all companies will want to proceed at the same speed.
The shift to an autonomous treasury is reshaping the world of corporate finance, driven by new strategies and technologies—from self-healing cash forecasts to AI-driven liquidity engines—that are replacing legacy systems and maximizing yield.
To fully realize the potential, corporate finance leaders are strategically investing in the key areas that will accelerate the transition. The next phase of autonomous treasury will be defined by three investment-focus areas, says Sayantan Chakraborty, head of Digital Payments at Fiserv. “Treasurers don’t lack visibility anymore; they lack widgets that can act on that visibility in real time,” he says. “The gap isn’t analytics. It’s execution.”
Although agentic AI can forecast cash positions and draft funding instructions, Chakraborty notes, current corporate infrastructure often runs in batch mode. The first essential missing link is comprehensive, real-time cash positioning, second, it’s combined with rule-based, just-in-time money movement across multiple payment rails—including instant and traditional—and third, integration of new features like tokenized deposits and programmable payments.
The technological journey still requires human expertise, however. And Chakraborty advises building around legacy ERP systems rather than waiting for a complete modernization.
“Think of it as an AI-powered autopilot added to an older cockpit,” he says. “Policies are enforced, actions are executed, and audit trails are preserved without forcing a full-core replacement on day one, under the watchful eyes of a trained cockpit and cabin crew.”
The era of multi-year, big-bang upgrades is over, Chakraborty argues. Instead, the best course is to implement a lightweight, 24/7 automation layer to handle real-time balances, rules, and payments.
As instant payment rails and real-time reporting become more widespread, Chakraborty predicts the current practice of pre-funding accounts before cut-offs will become obsolete. Instead, “agentic AI will push treasury from once-a-day instructions to continuous, just-in-time funding: as soon as execution matches intent across all rails.”
This shift will impact float, causing idle-balance float to decrease and driving banks to focus their earnings on 24/7 clearing services, intraday credit, and real-time liquidity.
Siemens, a leader in autonomous treasury, adopted J.P. Morgan’s programmable payment feature (formerly Onyx, now Kinexys) in late 2023. Siemens shifted to advanced programmable payments using the blockchain-based ledger, JPM Coin. This allows their bank accounts to autonomously manage cash and execute transactions based on pre-defined rules. Addressing the inefficiency of idle pre-funded balances, Siemens implemented a just-in-time mechanism. Funds are only moved into a specific account the moment a payment is due. If a balance drops below a set threshold, the system autonomously sweeps funds from a central cash pool, enabling Siemens to operate with near-zero balances in local accounts.
“In my experience, the biggest challenge is not technology, but the mindset shift in finance and treasury,” states Heiko Nix, global head of Cash Management and Payments, Siemens. “For almost every technical problem, there is a solution. But simplifying entrenched processes and changing how people think about treasury and its role takes significantly more time and effort. In practice, you do not need to convince everyone at once, what matters is building sufficient momentum across the organization to enable real transformation.”
John Stevens, Kyriba
A ‘Forward-Looking Control Tower’
AI creates a strategic opportunity, argues John Stevens, senior vice president, global head of Capital Markets, Financial Institutions & Working Capital at Kyriba.
“AI can transform working capital management from a retrospective reporting function into a forward-looking control tower,” he says. “Instead of focusing on past events, you can optimize for the future in real time. This is because tasks that previously required manual, analog effort, or demanded analysts to spend long hours consolidating reports, can now occur instantaneously. This real-time capability allows for significantly more sensible and timely decision-making.”
Companies still need to work closely with vendors to build AI safely, he cautions: “We don’t see a single out-of-the-box ‘autonomous’ product replacing the diversity of treasury needs.” The future will be “composable,” he predicts, although it is important to be precise about what this means.
While Kyriba App Studio serves as an extensibility layer for building bespoke integrations and workflows on the Kyriba platform, Stevens stresses that it is not an agent-building toolkit. The agentic AI layer is TAI, which provides Kyriba-developed agents with “a clear human in the loop posture.”
Using a third-party model doesn’t automatically make an AI tool less intelligent and using only in house-models doesn’t automatically make it more intelligent, he argues.
“In treasury, the deciding factor is whether the AI can be used safely and consistently in a regulated environment,” Stevens says. TAI isn’t positioned to avoid external LLMs. “We use a leading external model [Anthropic’s Claude] within a controlled, governed deployment. The difference is the wrapper around the model: strict limits on what data it can access, clear rules on what it’s allowed to do, and a full audit trail of activity.”
Practically, that means the AI can help generate insights—summaries, explanations, flag anomalies, scenario narratives—while anything that could affect payments, liquidity, or risk stays under platform controls, approvals, and policy-driven workflows.
“So it’s not a binary choice between open and sovereign,” he notes. “Some organizations will require sovereign options for policy or jurisdiction reasons, but most regulated treasuries are looking for governed AI: strong models, used in a way that is secure, auditable, and designed for real operational control.”
Redefining Corporate Finance
The potential benefits to treasury have ignited a competitive push for autonomy, complete with aggressive industry targets and a race for “fully autonomous” platforms.
HighRadius recently updated its agentic AI platform with the goal of achieving over 90% automation for the Office of the CFO by 2027. The initiative involves deploying AI agents across six product suites and 20 products within accounts receivable, payables, treasury, close, and consolidation. The release of 186 agentic AI agents, announced last February, moves HighRadius closer to the “fully autonomous platform vision” it first announced in 2019, with cash application and cash forecasting already demonstrating 90% touchless automation.
HighRadius prioritizes “measurable value creation,” which it validates with clients through mutually agreed success criteria (MASC). This value is delivered via automated agents, aiming for 90%-plus automation, and assisted agents, designed to triple user effectiveness.
CEO Sashi Narahari views agentic AI as an interim step toward HighRadius’s goal of ensuring that all its products are “fully autonomous”—defined as 90%-plus touchless end-to-end process—by 2027. Narahari stresses the critical nature of this goal, to the point that failing to achieve it would lead to the company’s demise.
What about mid-tier banks that may not want to jump to a comprehensive transformation? For them, Chakraborty advises that a single, reliable orchestration endpoint is better than many disparate APIs.
“Essential to this is a real time balance plus payment execution API,” he says “exposing positions, limits, and instant movement through a single, resilient interface. That’s what lets AI driven treasury systems act as agents, not just analysts.” Integrating such a process with tokenized deposit movement is also beneficial where possible, he adds.
That said, the journey toward the autonomous treasury, spearheaded by pioneering companies like Siemens and driven by the rapid evolution of agentic AI, is fundamentally redefining corporate finance.
The shift is not merely about incremental efficiency gains but is coming to be seen as a strategic imperative for maximizing yield, securing real-time liquidity, and moving beyond the constraints of legacy systems. Corporate treasurers who are embracing the transition are attracted by a promised tactical roadmap to a future-proofed role. For the financial institutions that serve them, autonomous treasury is an urgent call to align their offerings with a new era of continuous, intelligent, and just-in-time financial control.
