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.
This article was written by Greg Michalowski at www.forexlive.com.
