Scott Bessent - News and Info Tracker

Treasury Secretary Scott Bessent has been at the center of critical developments in U.S. economic policy and international relations over the past week. As the global economy grapples with volatility, his statements and actions have played a pivotal role in shaping strategies and addressing challenges.This week, Bessent announced his upcoming visit to Buenos Aires, Argentina, scheduled for April 14. He plans to meet with Argentine President Javier Milei and Economy Minister Luis Caputo to reaffirm U.S. support for Argentina’s ambitious economic reforms. Bessent praised Milei’s leadership, emphasizing how Argentina has rebounded from a precarious economic state. This visit aims to deepen bilateral economic ties and promote international backing for Argentina’s policy changes, which have been described as bold and transformative.Domestically, Bessent has been actively managing the fallout from President Donald Trump’s recent tariff decisions. The president announced a temporary suspension of tariffs for 75 countries as part of a broader negotiating strategy, while simultaneously raising tariffs on Chinese imports to 125%. Bessent defended the strategy, clarifying that the tariff pause was not a reaction to recent financial market declines but a calculated step to encourage trade negotiations. He emphasized the administration’s commitment to engaging with nations willing to negotiate fair trade terms and highlighted the long-term benefits of such strategies, despite the short-term market turbulence.Market reactions to these tariffs have been pronounced, with U.S. equities experiencing significant fluctuations. While the S&P 500 surged 8% following the tariff pause announcement, concerns about recession risks and inflationary pressures persist. Bessent remains optimistic, arguing that market volatility is a natural response to policy adjustments and that the U.S. economy is on a firm path to recovery.The trade tensions with China remain a critical focal point. Responding to China’s retaliatory tariff increases, Bessent criticized Beijing’s approach as unsustainable, citing its disproportionate dependence on exports to the U.S. He also called for stronger Chinese action against the flow of fentanyl precursors into the United States, urging them to apply the same stringent domestic standards to international drug trade issues.During a candid interview, Bessent shared his broader concerns as Treasury Secretary, from managing the nation's significant debt load to addressing geopolitical risks. He expressed confidence in his role as a leader in risk management, emphasizing the need for fiscal responsibility and strategic foresight. Bessent highlighted the importance of maintaining stable 10-year interest rates, which underpin mortgages and long-term capital investments, and stressed the urgency of bipartisan efforts to avoid a potential historic tax increase.As he prepares for his trip to Argentina, Bessent's leadership continues to be closely watched on both domestic and international fronts. His approach reflects a mix of strategic risk management and a focus on fostering economic stability, even amid unprecedented global challenges.

10 Huhti 3min

Over the past week, Treasury Secretary Scott Bessent has found himself at the center of economic turbulence, largely triggered by President Donald Trump’s announcement of sweeping tariffs. These "reciprocal tariffs," which include a baseline 10% levy on imports and higher rates for certain nations, have sparked global economic unease. The U.S. stock markets reacted sharply, shedding $6 trillion in value over two days, marking the steepest crash since the early days of the COVID-19 pandemic. Despite this, Bessent has publicly downplayed the market's downturn as a "short-term reaction," emphasizing his confidence in the resiliency of market infrastructure.In interviews over the weekend, Bessent maintained a cautious but optimistic tone about the broader economic ramifications. Speaking on NBC’s *Meet the Press*, he reassured Americans of the market system's stability, highlighting record trading volumes amid last week's selloff. He also expressed skepticism about Wall Street's growing fears of a recession, asserting that "there doesn't have to be a recession" and pointing to potential long-term benefits from adjusting trade relationships.However, Bessent’s position seems increasingly precarious within the Trump administration. Reports suggest that the Treasury Secretary, a former hedge fund executive, feels isolated and excluded from key decision-making circles. Sources indicate he may be contemplating an exit from his post, possibly towards a role at the Federal Reserve, as his credibility in financial markets comes under strain. The tariffs, seen as a cornerstone of Trump’s trade strategy, have placed Bessent in a difficult position, balancing loyalty to the administration with the broader economic concerns he has long championed.In recent days, Bessent has also played a pivotal role in diplomatic efforts to mitigate the escalating trade tensions. He revealed that up to 70 countries had reached out to the U.S. for tariff negotiations, following Trump’s declaration of what he called "Liberation Day." These discussions, Bessent noted, reflect the administration's strategy of using tariffs as leverage to push for concessions on non-tariff barriers, currency manipulation, and subsidies from trading partners. Over the weekend, he reportedly urged Trump to communicate that there is an "end game" to these tariff measures—a move aimed at soothing volatile markets.Despite his efforts, Bessent’s advice has not always aligned with Trump’s more aggressive stance. While the Treasury Secretary has called on foreign governments to refrain from retaliatory actions, the global response remains uncertain. Bessent’s call for calm reflects his broader attempt to maintain stability, urging nations to "take a moment to observe the situation" rather than escalating trade wars that could worsen the economic fallout.Amid this upheaval, Bessent continues to navigate a challenging economic and political landscape. His role in shaping tariff negotiations and managing market reactions will be critical in the coming weeks as the administration’s trade policies take effect. Whether he remains in his position or moves on, Bessent’s legacy as Treasury Secretary will likely be defined by how he handles the ongoing economic uncertainty fueled by these historic policy decisions.

8 Huhti 3min

Treasury Secretary Scott Bessent has been at the center of significant economic developments in recent days, navigating complex market dynamics and advancing key policy initiatives amidst escalating trade tensions and political maneuvering. Following the recent Senate passage of the Fiscal Year 2025 Budget Resolution, Bessent issued a statement highlighting the move as a pivotal step toward sustaining economic growth. He emphasized that the resolution advances permanent extensions of Trump-era tax cuts, projecting long-term certainty for small businesses and working families. This marks the beginning of what Bessent called a "crucial first step" in fortifying the nation's economic foundations.However, turbulence surrounding the administration's tariff policies has sparked concern. President Trump's recent imposition of hefty tariffs on imports from China, Canada, and Mexico has triggered widespread market volatility. U.S. financial markets experienced their steepest declines since 2020, with private equity firms facing substantial losses and IPO activity grinding to a halt. Despite these setbacks, Bessent attempted to inject a dose of realism into the discourse, rejecting the notion of a "Trump put" to stabilize markets. He instead underscored the administration’s focus on long-term economic policies rather than short-term interventions.Amid this tariff-induced economic uncertainty, Bessent's influence within the Trump administration appears to be under scrutiny. Reports suggest that his role in shaping tariff strategies has been overshadowed by senior advisors like Peter Navarro and Commerce Secretary Howard Lutnick. This sidelining, coupled with rising investor unease, has fueled speculation about Bessent's potential resignation. Observers point to his increasing frustration with the administration's dismissive stance on his concerns regarding the economic fallout of escalating trade tensions.In public appearances, Bessent has maintained a consistent message about adapting to shifts in economic priorities. He recently described the U.S. economy as undergoing a "detox period" as it transitions from government-driven to private-driven growth. Acknowledging the market's challenges, he called for patience, emphasizing that sound policies remain the key to long-term stability. His remarks have sought to calm fears, stressing that the administration’s broader goals include reducing inflation, addressing tariff-related pressures, and securing economic security through updated financial tools.As markets brace for further uncertainty, Bessent faces mounting pressure to balance his responsibilities as Treasury Secretary with navigating internal political dynamics. While his public commitment to shaping tax reform remains steadfast, questions about his waning influence and potential career moves loom large. The coming weeks are likely to test his resilience as he continues to navigate the treacherous terrain of economic policymaking in a volatile political environment.

6 Huhti 3min

Scott Bessent, the U.S. Secretary of the Treasury, has been at the center of significant developments in economic policy and international relations this week. Known for his pragmatic approach, Bessent has tackled multiple challenges, including global trade tensions, sanctions enforcement, and domestic economic policy reforms.On April 2, Bessent strongly urged U.S. trading partners to refrain from retaliating against tariffs imposed by the Trump administration. These "Liberation Day" tariffs, unveiled with a 10% baseline, have sparked concern among international allies, including Canada, Mexico, and European nations. In a CNN interview, he emphasized the importance of avoiding escalation, advocating for patience and dialogue to prevent further strain on global trade relations.In national security efforts, Bessent led a key public-private partnership event in Washington, D.C., aimed at curbing Iran's access to the global financial system. This initiative, part of the U.S. Treasury's "IMPACT" Exchange series, brought together financial institutions and federal law enforcement to address Iran's clandestine oil trade and shadow banking operations. Bessent made clear his commitment to using every tool available to combat illicit financial networks linked to terrorism and nuclear proliferation, underscoring the administration’s "maximum pressure" strategy on Iran.On the domestic front, Bessent launched National Financial Literacy Month in collaboration with John Hope Bryant, founder of Operation HOPE. The initiative, Financial Literacy for All, seeks to integrate financial education into American life. Bessent highlighted the critical need for financial literacy, framing it as a fundamental skill akin to reading and writing.Economically, Bessent continues to prioritize fiscal discipline and deregulation to stimulate private-sector growth. He has supported extending Trump-era tax cuts, reducing the fiscal deficit, and lowering long-term borrowing costs. Bessent described the economy as undergoing a "detox period" from reliance on government spending, signaling a shift toward increased private sector engagement. He addressed market volatility optimistically, viewing recent corrections as a "healthy adjustment" to prevent future crises.With a balanced focus on international diplomacy, economic reform, and national security, Scott Bessent’s leadership reflects an effort to build financial stability while advancing the administration’s broader economic and geopolitical objectives.

3 Huhti 2min

In recent days, Treasury Secretary Scott Bessent has been at the forefront of economic discussions, outlining key aspects of the Trump administration's financial policies. On March 27, 2025, Bessent detailed a sweeping plan to improve Social Security, emphasizing "accountability" and "efficiency" as core principles. The plan aims to deliver benefits faster and reduce fraud risk by shifting to electronic payments from paper checks by the end of September.Bessent has also been addressing concerns about the current state of the U.S. economy. On March 7, he acknowledged some signs of weakness, stating, "Could we be seeing that this economy that we inherited starting to roll a bit? Sure." He emphasized the need for a transition from public to private spending, describing it as a "detox period" from government spending addiction.The Treasury Secretary has been actively promoting the administration's focus on lowering borrowing costs, particularly targeting 10-year Treasury yields rather than the Federal Reserve's benchmark short-term interest rate. Bessent reiterated his view that expanding energy supply will help lower inflation, especially for working-class Americans.In a significant move, Bessent announced on March 2 the creation of an "affordability czar" within the Treasury Department. This new role is designed to identify key areas where the administration can make a substantial difference for working-class Americans, addressing the ongoing concern of high prices in the U.S.Regarding international economic policy, Bessent has been defending the administration's tariff policies. He described tariffs as a "one-time price adjustment" and pushed back against the idea that they would fuel continued inflation. This stance aligns with the broader goal of reorienting U.S. international economic relations.On March 6, Bessent delivered a comprehensive speech at the Economic Club of New York, outlining three critical pillars of President Trump's America First agenda. He addressed the administration's plans for deregulating the financial sector, reorienting international economic relations through tariff policies, and updating financial tools as a component of U.S. foreign policy.Most recently, on April 1, Bessent appeared on Fox News to discuss looming tariffs and potential tax cuts. He emphasized that the Trump administration will continue to insist on fair trade practices, signaling a continued focus on reshaping global trade policies.Throughout these appearances and announcements, Bessent has consistently emphasized the administration's commitment to improving economic conditions for working-class Americans, reducing government spending, and reshaping both domestic and international economic policies. His statements reflect a concerted effort to implement President Trump's economic vision, focusing on deregulation, tariff adjustments, and fiscal responsibility.

1 Huhti 3min

Treasury Secretary Scott Bessent has been at the center of several key economic developments and policy decisions in recent days. On March 17, Bessent made headlines with his comments about market corrections, stating that they are "healthy" and "normal." This perspective was challenged by CNBC's Jim Cramer, who argued that the current market situation is atypical and stems from concerns about a potential recession caused by President Trump's policies rather than typical economic factors.Bessent's remarks came amid a significant market downturn, with the S&P 500 entering correction territory. The Treasury Secretary's stance appears to align with the Trump administration's broader economic strategy, which has included deregulation efforts and a focus on reshaping global trade policies.In a speech at the Economic Club of New York on March 6, Bessent outlined three critical pillars of the administration's America First agenda. He emphasized the importance of deregulating the financial sector to accelerate what he termed the "re-privatization of the economy." Bessent also discussed the administration's tariff policies and their role in reorienting international economic relations.A key focus of Bessent's recent activities has been addressing the affordability crisis facing many Americans. In a March 2 interview on "Face the Nation," he acknowledged the challenges but defended the administration's approach, citing decreases in interest rates and mortgage rates as positive indicators. Bessent also revealed plans to appoint an "affordability czar" and establish an affordability council to tackle issues affecting working-class Americans.On the international front, Bessent has been actively involved in discussions with foreign counterparts. On March 18, he met with Turkish Minister of Treasury and Finance Mehmet Şimşek to discuss economic trends and mutual concerns, including sanctions and national security issues.Bessent's tenure has also seen a focus on modernizing government systems. He recently outlined a plan to improve Social Security, emphasizing accountability and efficiency. This includes a shift to electronic payments from paper checks by the end of September, aimed at reducing fraud risks and unnecessary costs.In the realm of cryptocurrency, Bessent faces scrutiny from Congress regarding President Trump's executive order on creating a strategic reserve for cryptocurrency. This move has raised questions about its potential impact on the financial system and regulatory landscape.As the Treasury Secretary navigates these complex economic and policy challenges, his actions and statements continue to shape the financial landscape and the administration's economic agenda. With ongoing market volatility and global economic uncertainties, Bessent's role in steering U.S. economic policy remains crucial and closely watched by investors, policymakers, and the public alike.

30 Maalis 3min

Scott Bessent, the 79th Secretary of the Treasury, has been making headlines with his recent statements and actions regarding the U.S. economy and international trade policies. In a recent interview on CNBC's "Squawk Box," Bessent acknowledged signs of weakness in the economy, suggesting that it might be "starting to roll a bit." He attributed this to a natural adjustment as the country moves away from public spending to private spending, describing it as a "detox period" from the previous administration's policies.Bessent has been actively promoting the Trump administration's economic agenda, focusing on deregulation, reordered global trade, and lower government spending to pay for tax cuts. He emphasized that the administration's priority is pushing for policies rather than focusing on stock market performance, rejecting the notion of a "Trump put" to prop up markets.The Treasury Secretary has also been addressing concerns about the U.S. debt ceiling. Recent reports indicate that America could run out of cash to pay its bills as early as this summer, adding urgency to ongoing discussions about fiscal policy and government spending.In a significant development, Bessent did not rule out the possibility of allowing Russian banks to rejoin the SWIFT international payment messaging system. During an interview with Fox News, he stated that "everything is on the table" regarding negotiations to end the war in Ukraine. However, he cautioned that such discussions were premature without a concrete deal in place.Bessent recently gave a speech at the Economic Club of New York, where he outlined three critical pillars of President Trump's America First agenda. He discussed plans to deregulate the financial sector, reorient international economic relations through tariff policies, and update financial tools as part of U.S. foreign policy.The Treasury Department, under Bessent's leadership, is also taking a strong stance on Iran. He announced a "maximum pressure campaign" designed to collapse Iran's economy, targeting its oil exports and financial networks. Bessent warned that if "economic security is national security, the regime in Tehran will have neither."Lastly, Bessent is facing scrutiny from Congress regarding President Trump's recent executive order on creating a strategic reserve for cryptocurrency. The House Oversight Committee has sent a letter requesting information about this initiative, highlighting the ongoing debates surrounding digital currencies and their role in the U.S. financial system.As Bessent continues to navigate these complex economic and geopolitical issues, his actions and statements will likely remain under close scrutiny from both domestic and international observers.

27 Maalis 2min

Scott Bessent, the 79th Secretary of the Treasury of the United States, has been making headlines with his recent statements and actions regarding the economy and international trade.In a recent interview with CNBC's "Squawk Box," Bessent discussed the state of the economy and U.S. foreign trade relations. He emphasized that the current administration's approach to global trade is not a radical change but rather a "much-needed course adjustment." Bessent argued that the goal is to make free trade fair trade, addressing the imbalances in trading systems that have led to significant trade deficits for the United States.Bessent has also been actively involved in negotiations with international partners. He recently met with Ukrainian President Volodymyr Zelenskyy to discuss an economic partnership agreement. Although the meeting did not result in an immediate signing, Bessent expressed the importance of bringing the Ukrainian people closer to the United States through economic ties.The Treasury Secretary has been a vocal supporter of President Trump's reciprocal tariff policy. In an interview with Fox Business, Bessent revealed that some of America's "worst trading partners" have already reached out to negotiate, offering substantial decreases in what he described as unfair tariffs. He expressed optimism that some tariffs may not need to be implemented as deals could be pre-negotiated before the April 2nd deadline.On the domestic front, Bessent has been focusing on the bond market and interest rates. His fixation on the 10-year Treasury yield has been so intense that it has forced some Wall Street analysts to revise their predictions for 2025. The phrase "Don't fight Bessent's Treasury" has become a new mantra in the U.S. bond market, highlighting the impact of his policies and statements on financial markets.In a recent cabinet meeting, Bessent outlined the administration's economic strategy, which includes reprivatizing the economy, reducing government spending, and decreasing excess employment in the government sector. He emphasized that these measures, combined with efforts to relever the banking system and create new manufacturing jobs, will lead to controlled inflation and lower interest rates.Bessent has also been addressing the intersection of economic and national security. In a speech at the Economic Club of New York, he discussed the administration's use of financial tools as a critical component of U.S. foreign policy. He highlighted the ongoing sanctions campaign against Iran, designed to collapse its oil exports and cut off its access to the international financial system.As the Trump administration continues to implement its America First agenda, Scott Bessent remains at the forefront of shaping economic policy and international trade relations. His actions and statements continue to have significant implications for both domestic and global markets.

25 Maalis 3min