US Treasury Sec Bessent:

  • Trump administration is focused on the real economy
  • Not concerned about a little bit of volatility focused on the long-term.
  • US government shutdown would be disruptive
  • Dems would “own it” if the government shutdown
  • Asked about Trumps 200% tariff threat, says not sure why one or two items from one or two trading blocs is a big deal.
  • Aside from metals and likely orders, everything else is up for grabs for tariffs
  • If trading partners want to ratchet things up, surplus countries will take the biggest hit
  • Generally CEOs are supportive of a transitional detox.
  • The Trump tax bill is no track.
  • Need to get it done by this summer.
  • A spending detox does not have to be a recession.
  • The easist thing for us to do would have been to keep the spending trend going.
  • We do have excess employment in the government.
  • The US does not have a revenue problem, it has a spending problem. We are trying to get it under control.

This article was written by Greg Michalowski at www.forexlive.com.US Treasury Sec Bessent:Trump administration is focused on the real economyNot concerned about a little bit of volatility focused on the long-term.US government shutdown would be disruptiveDems would “own it” if the government shutdownAsked about Trumps 200% tariff threat, says not sure why one or two items from one or two trading blocs is a big deal.Aside from metals and likely orders, everything else is up for grabs for tariffsIf trading partners want to ratchet things up, surplus countries will take the biggest hit Generally CEOs are supportive of a transitional detox.The Trump tax bill is no track.Need to get it done by this summer.A spending detox does not have to be a recession.The easist thing for us to do would have been to keep the spending trend going.We do have excess employment in the government.The US does not have a revenue problem, it has a spending problem. We are trying to get it under control.
This article was written by Greg Michalowski at www.forexlive.com.  Read MoreNews 

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