"Treasury Secretary Bessent Touts Tax Bill's Growth Potential, Warns of Tariffs on Trade Holdouts"

Scott Bessent, the current United States Secretary of the Treasury, has been at the center of several major economic and political developments this week. Most notably, Bessent confirmed in an interview with Bloomberg Television that the Trump administration has formally launched the search for a new Federal Reserve chair to potentially replace Jerome Powell. Bessent explained that a thorough process is underway and that multiple qualified candidates are being considered both from within and outside the Federal Reserve. This development follows sustained criticism from the Trump administration toward Powell, especially regarding his reluctance to cut interest rates over the past several Federal Open Market Committee meetings. According to Bloomberg, while Bessent is not currently viewed as the top candidate to lead the Federal Reserve, both he and National Economic Council Director Kevin Hassett have emerged as possibilities. Former President Trump has stated on several occasions that he does not intend to fire Powell, but has publicly pressured him, especially regarding a controversial proposed 2.5 billion dollar renovation at the Federal Reserve headquarters. Some critics, including William J Pulte, chair of the Federal Housing Finance Agency, have even called for a congressional investigation into Powell’s actions and statements about the project.In another headline, Bessent plays a leading diplomatic role this week. Jiji Press reports that on Friday he will meet with Japanese Prime Minister Shigeru Ishiba in Tokyo. The meeting is highly anticipated as it takes place just ahead of Japan’s House of Councillors election and with the United States poised to enact reciprocal tariffs on August first. Prime Minister Ishiba is expected to advocate for Japan’s interests and hopes to find common ground on these tariff negotiations. Bessent is also visiting Japan to attend the United States national day at the World Exposition in Osaka.Domestically, Bessent has also commented extensively on major legislation that impacts millions of Americans. The Finance Committee reports that Bessent is a prominent supporter of the One Big Beautiful Bill, which greatly expands tax relief for low and middle income seniors. The bill includes a six thousand dollar bonus exemption for seniors and permanent lower tax rates for American families and job creators. Bessent asserts that these changes will increase economic growth, improve lives across the country, and reinforce key social programs by cutting waste and fraud.Thank you for tuning in and do not forget to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOta

17 Heinä 2min

Scott Bessent, currently serving as United States Secretary of the Treasury, has been at the center of several major developments over the past few days, according to multiple reports from Bloomberg, The Mortgage Point, and Jiji Press. Most notably, Secretary Bessent confirmed in an interview with Bloomberg Surveillance that a formal process is now underway to identify a successor to Federal Reserve Chairman Jerome Powell. Bessent stated there are many strong candidates both inside and outside the Federal Reserve, though he declined to comment on whether he is under consideration himself. He added that it would be confusing for Powell to remain at the Fed after his term as chair ends, though President Trump has repeatedly said he does not plan to fire Powell, according to The Mortgage Point.While President Trump, speaking to Bloomberg, described Bessent as a very good candidate for Fed chair, he also indicated that Bessent is not the top contender at the moment and is well-suited to his current role as Treasury Secretary. Bessent has emerged as a possible candidate for Fed chair, alongside National Economic Council Director Kevin Hassett. There is no legal barrier preventing the Treasury Secretary from also leading the Federal Reserve, but such a move would be unprecedented in modern US history, as reported by The Mortgage Point.On the international front, Bessent is leading a high-profile delegation to Japan, where he is scheduled to meet with Japanese Prime Minister Shigeru Ishiba on Friday, according to Jiji Press. The meeting comes at a critical moment, just before Japan’s House of Councillors election and ahead of a Washington-imposed deadline for new reciprocal tariffs set to take effect August 1. Prime Minister Ishiba is expected to press for a breakthrough in tariff negotiations, aiming to secure a mutually beneficial deal. Bessent is visiting Japan to attend the United States national day event at the World Expo in Osaka on Saturday.Domestically, Secretary Bessent has been vocal in supporting the recently passed One Big Beautiful Bill, which delivers significant tax relief to low- and middle-income seniors, including a six thousand dollar bonus exemption that could offset federal taxes onFor more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOta

17 Heinä 2min

US Treasury Secretary Scott Bessent has been at the forefront of several key developments in economic policy over the past few days, with headlines focusing on his comments about US inflation, upcoming leadership changes at the Federal Reserve, and international trade negotiations. During a recent interview with Bloomberg Television, Bessent addressed current inflation challenges, reiterating the administration's commitment to balancing price stability with growth, and highlighting ongoing efforts to monitor market dynamics closely.One major story making waves is the formal process now underway to identify a successor for Jerome Powell as Federal Reserve Chair. Bessent confirmed that he is part of the decision-making team in this search and emphasized that, while he is involved in the discussions, President Trump holds the final say. When pressed about the possibility of him being considered for the Fed Chair position, Bessent stated that he is happy in his current role as Treasury Secretary and remains focused on executing the administration’s economic agenda.Trade relations have also been in the spotlight. Bessent commented on ongoing negotiations with both China and the European Union, noting that the administration is evaluating the potential impact of tariffs and that any new trade deal will weigh market reaction as a critical factor. This signals a pragmatic approach in leveraging tariffs as policy tools, while carefully considering broader economic repercussions.Looking to the technology sector, Bessent discussed the influence of major US tech companies, specifically mentioning companies like Nvidia, in overall market performance and inflation trends. He acknowledged the role that rapid technological advancement continues to play in driving US productivity and global competitiveness.Throughout these discussions, Bessent’s tone has reflected continuity and measured optimism. He assures listeners that fiscal policy decisions remain rooted in data while keeping an eye on major economic indicators and external risk factors. Bessent’s participation in high-level deliberations about the next Fed Chair, his remarks on trade negotiations, and his insight into inflation dynamics offer valuable signals on the direction of US financial policy.Thank you for tuning in and remember to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOta

15 Heinä 2min

In recent days United States Secretary of the Treasury Scott Bessent has been in the spotlight for his critical role in the new US United Kingdom trade agreement which was reached in June and announced publicly over the weekend. According to CNBC TV18 the trade pact was described by Secretary Bessent as a smart move by the United Kingdom which he said acted swiftly to clinch a fair and durable agreement with the United States. The deal notably slashes US tariffs on key British exports including a reduction in tariffs for UK auto exports from twenty seven point five percent to ten percent for up to one hundred thousand vehicles per year and removes Trump era tariffs on British civil aerospace aircraft. UK quotas for certain American agricultural products will also increase.Bessent praised the UK trade team and Prime Minister Keir Starmer for proactive negotiations with President Trump who signed an executive order providing these tariff exemptions and reliefs. In a post on social media Bessent emphasized that countries engaging in earnest and good faith negotiations with the United States can secure powerful outcomes correcting longstanding trade imbalances.France twenty four reports that Bessent has become a high profile member of President Trump’s trade negotiation team advocating for pauses and exemptions in tariffs as a means to achieve mutually beneficial deals. He has advised other American trading partners to approach trade negotiations with urgency making clear that with President Trump often the earliest deal makers receive the most favorable terms. This message has been reinforced in various recent public statements and has shaped how several countries are approaching ongoing talks with Washington.Bessent has also commented on the consequences of failing to reach deals warning that tariffs could quickly return or even escalate if partners do not secure timely agreements. According to The Hill last week Bessent explicitly stated that tariff rates could boomerang back to higher levels should negotiations falter or deadlines be missed. This approach places significant pressure on allies and trading partners to act decisively.Economically the impact of these negotiations has been immediate as US customs duties have surpassed one hundred billion dollars for the first time in a single financial year. This record reflects both the increased trade flow under new deals and the continuing effects of the Trump administration’s tariff strategies.Thank you for tuning in and be sure to subscribe. This has been a Quiet Please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOta

13 Heinä 2min

Over the last several days, Treasury Secretary Scott Bessent has made headlines with a series of moves shaping both United States economic policy and international trade relations. On July ninth, Bessent announced that the US is on track to collect more than three hundred billion dollars in tariffs this year. He referenced a Congressional Budget Office report that estimated tariff collections at two point eight trillion dollars over the next decade. However, Bessent stated that these agency estimates are likely too low. According to the Monday Daily Treasury Statement, one hundred twenty four billion dollars in customs duties had already been collected this fiscal year. This jump in revenue is linked to the new ten percent universal tariffs and recently introduced reciprocal tariffs targeting countries that maintain barriers against American products. President Trump initially imposed a ninety day pause on these tariffs, but extended the deadline to August first. In his latest executive order, Trump made it clear there would be no further extensions beyond that date. Countries that do not reach a deal with the US by then will receive letters confirming they will be subject to tariffs as high as forty percent, a move expected to further boost customs collections. Bessent stated that negotiations continue with eighteen critical trading partners, which cover most of America’s trade deficit, and suggested several major trade announcements are likely in the coming days.Bessent has also focused on global security issues. On July ninth, the Treasury took decisive action against Iran’s illicit financial networks by designating twenty two entities across Hong Kong, the United Arab Emirates, and Turkey for their roles in facilitating Iranian oil sales that benefit the Islamic Revolutionary Guard Corps Qods Force. Bessent emphasized that Iran relies on shadow banking systems to offset US sanctions, enabling the regime to fund nuclear ambitions and regional proxies. Treasury’s actions are the second wave of sanctions this summer targeting Iran’s covert financial structure.On the diplomatic front, Scott Bessent has been selected to lead the United States delegation to the World Expo in Osaka, Japan, scheduled for July nineteenth, according to a White House announcement. This high-profile international event offers opportunities for economic dialogue with key Pacific partners. In recent days, Bessent also met with King Abdullah of Jordan at the Sun Valley Conference, further underscoring the Treasury Secretary’s active role in shaping US foreign policy.Listeners, thank you for tuning in, and remember to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For more http://www.quietplease.aiGet the best deals https://amzn.to/3ODvOta

10 Heinä 2min

Scott Bessent has been a central figure in economic news over the past several days, making headlines as Secretary of the Treasury during a pivotal period for United States fiscal and trade policy. One of the most significant developments was the recent passage of what Bessent has called the One Big Beautiful Bill. This sweeping piece of legislation is being touted as the cornerstone of a new economic era, with Bessent highlighting its permanent pro-growth tax cuts for families, workers, and job creators. The law also enacts provisions such as No Tax on Tips, No Tax on Overtime, and additional tax cuts for seniors. According to Bessent, this bill prevents what would have been the largest tax hike in U.S. history and locks in certainty for American businesses, ensuring continued hiring, investment, and wage growth, drawing a direct parallel to the economic boom following the 2017 tax cuts. He credits the bill with cementing a blue-collar boom and improving economic prospects across the country, especially as the nation approaches its 250th anniversary.Trade policy has also been thrust into the spotlight, with Bessent warning that a new wave of tariffs will take effect on August first. He clarified in recent interviews that this date is not a negotiation deadline but the firm moment when new reciprocal tariffs will be implemented. The administration has struck agreements with the United Kingdom, Vietnam, and reached a limited accord with China, and reports suggest that deals with India and significant progress with the European Union are imminent. Bessent explained that the strategy is to apply maximum leverage by threatening a return to higher tariffs if negotiations do not result in the desired outcomes, which he believes will accelerate progress in ongoing talks. President Trump has indicated that letters will be sent to numerous countries announcing tariff rates ranging from ten to seventy percent, intending to reinforce American trade interests.On the international front, Bessent played a key role in supporting the recent decision to terminate U.S. sanctions on Syria, following the end of the Assad regime. He stated that this move is designed to reconnect the Syrian economy with global commerce and assist in the country’s reconstruction efforts. Bessent emphasized that the Treasury would continue to hold destabilizing actors accountable, using the department’s full range of tools to encourage regional stability and economic progress in the Middle East. This policy shift is framed as a chance for Syria to rebuild and for its people to experience relief after years of hardship.Bessent has not shied away from the domestic political fray either. In defending the administration’s trillion-dollar domestic legislation, which includes substantial health care cuts and new work requirements for Medicaid recipients, he asserted that no current beneficiaries would see their health benefits cut. Instead, he argued that the renewed manufacturing sector and rising wages would allow more Americans to find good jobs and health coverage outside government programs. Critics, however, warn that these requirements could lead to coverage losses and threaten the viability of rural hospitals.Additionally, Bessent has engaged in the broader political debate, notably responding to Elon Musk’s announcement of the America Party. Bessent remarked that while the principles of Musk’s previous party had been popular, Musk himself did not enjoy similar approval, referencing polling data on public sentiment. The Treasurer’s comments reflect the ongoing intersections of politics, policy, and business influence as new political movements emerge and major legislative and executive decisions reshape the economic landscape.Thank you for tuning in, and make sure to subscribe. This has been a quiet please production, for more check out quiet please dot ai.

8 Heinä 4min

Scott Bessent, the 79th Secretary of the Treasury of the United States, has been at the center of several significant developments in recent days. Most notably, Bessent was reportedly involved in a physical altercation with Elon Musk in the White House, according to reports from May 31, 2025. Former Trump advisor Steve Bannon claimed that Musk physically "shoved" the 62-year-old Bessent during a heated confrontation that began in the Oval Office and continued through various White House offices. The dispute allegedly erupted when Bessent confronted Musk about his promise to identify a trillion dollars in government cuts, of which only about $100 billion had been located. According to Bannon, President Trump "clearly" sided with Bessent in the dispute, which may have accelerated Musk's exit from the White House.On the policy front, Bessent issued a statement on May 21, 2025, following the House Ways & Means Committee's successful vote on reconciliation legislation. He praised House Republicans for making "strong progress toward enacting President Trump's economic agenda and preventing historic tax hikes on families and businesses." Bessent emphasized the administration's commitment to making the 2017 Trump tax cuts permanent while implementing new measures to "keep more money in the pockets of hardworking Americans."Bessent is also scheduled to travel to Canada, as announced by the Treasury Department on May 19, 2025, though specific details of this diplomatic mission have not been widely reported.Since taking office on January 28, 2025, Bessent has positioned himself as a fiscal conservative focused on reducing government spending. He has repeatedly characterized the U.S. economy as needing a "detox" from excessive government involvement. While considered a moderating influence on Trump's trade policies, Bessent has emerged as more of a hard-liner on debt and spending reduction issues.His tenure has not been without criticism. The Nation published an article on April 10, 2025, titled "Scott Bessent Is Doing a Terrible, Horrible, No Good, Very Bad Job," which criticized his economic predictions and policy positions. The article highlighted Bessent's controversial claim that Trump's tariffs on China would not harm U.S. consumers because "China will pay for the tariffs" and "will eat any tariffs that go on."Before his appointment as Treasury Secretary, Bessent had a 40-year career in global investment management, serving as CEO and CIO of Key Square Capital Management and previously as CIO of Soros Fund Management. His background includes experience as an adjunct professor at Yale University teaching economic history, and he is considered a specialist in currencies and fixed income.

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