Treasury Secretary Scott Bessent threatened to punch Federal Housing Finance Agency Director Bill Pulte “in your f**king face” during a heated confrontation at an exclusive Washington club last week, according to a report by The New York Post and others.
The explosive fight happened Wednesday evening at the Executive Branch social club in Georgetown during a celebration. The ultra-exclusive club, co-founded by banker Omeed Malik and Donald Trump Jr., was hosting its inaugural dinner and a birthday party for MAGA-friendly podcaster Chamath Palihapitiya.
About 30 guests attended the dinner, including Transportation Secretary Sean Duffy, Commerce Secretary Howard Lutnick, Interior Secretary Doug Burgum, Agriculture Secretary Brooke Rollins, Director of National Intelligence Tulsi Gabbard, SBA Administrator Kelly Loeffler, and Medicare and Medicaid chief Mehmet Oz.
Bessent, 63, confronted Pulte, 37, after hearing that the housing finance director had been badmouthing him to President Donald Trump, The Post reported. The Treasury secretary launched into an expletive-laden attack during cocktail hour.
“Why the f**k are you talking to the president about me? F**k you,” Bessent told Pulte according to one eyewitness and four other people familiar with the incident. “I’m gonna punch you in your f**king face.”
When club co-owner Malik tried to intervene, Bessent escalated the confrontation further.
“It’s either me or him,” Bessent said to Malik. “You tell me who’s getting the f**k out of here.”
“Or we could go outside,” he added.
“To do what?” asked Pulte. “To talk?”
“No,” Bessent reportedly replied. “I’m going to f**king beat your a**.”
Malik separated the two men, walking Bessent to another part of the club to calm down. During the seated dinner, organizers placed Bessent and Pulte at opposite ends of the long table set with top-of-the-line crystal and china. The party continued without further incident.
Bessent is the greatest Treasury Secretary ever pic.twitter.com/mSAgRjHMoA
— JUNK BOND ANALYST (@junkbondanalyst) September 8, 2025
Trump announced in May that Bessent, Lutnick, and Pulte would collaborate on plans to privatize the federal mortgage giants Fannie Mae and Freddie Mac.
Pulte has taken the lead on an initiative that could put as much as 15 percent of Fannie and Freddie on public markets in recent weeks.
According to reports, the tension comes from Bessent’s belief that Pulte has inserted himself into matters the Treasury secretary views as his jurisdiction. Pulte has bristled at being pushed aside, according to four Trump administration insiders.
The two officials also disagree on Federal Reserve policy. Bessent has advised Trump not to fire Fed Chairman Jerome Powell, warning that such a move would destabilize financial markets. Pulte has repeatedly called on Powell to resign and even gave Trump a draft letter firing the Fed chair in July.
This was not Bessent’s first near-physical altercation with a fellow Trump official. In April, the Treasury secretary confronted Elon Musk just outside the Oval Office over competing candidates for acting head of the Internal Revenue Service.
Bessent was pushing for Deputy Treasury Secretary Michael Faulkender to get the job, while Musk supported IRS whistleblower Gary Shapley. According to former Trump adviser Steve Bannon, Bessent called Musk a “fraud” during their shouting match before the Tesla CEO “lowered his shoulder at the Treasury secretary like a rugby player.”
Bessent called claims he labeled Musk a fraud “fake news,” though he did not address whether physical contact occurred.
The Treasury secretary has won Trump’s trust as a “soothing” presence for nervous markets amid the president’s unorthodox economic policies. The billionaire former hedge fund manager is considered a “moderating influence” on the administration.