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Scott Bessent - News and Info Tracker

Scott Bessent - News and Info Tracker

By: Quiet. Please
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 This is your Scott Bessent - News and Information podcast.

Discover the latest updates and insights on Scott Bessent with the "Scott Bessent News and Info Tracker" podcast. Stay informed with regular episodes that cover breaking news, in-depth analysis, and expert commentary on Scott Bessent’s ventures and influence in the financial world. Perfect for investors, industry enthusiasts, and anyone fascinated by the strategies and successes of this leading figure. Tune in to keep your knowledge current and gain a deeper understanding of the financial landscape with Scott Bessent as your focal point.

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Episodes
  • Navigating Economic Challenges: Treasury Secretary Bessent Addresses Walmart Tariffs and Trade Talks with China

    Navigating Economic Challenges: Treasury Secretary Bessent Addresses Walmart Tariffs and Trade Talks with China
    May 20 2025
    Treasury Secretary Scott Bessent has been making headlines this week as he navigates complex economic challenges in the Trump administration. On Sunday, May 18, Bessent acknowledged that Walmart may pass along some costs from President Trump's tariffs to consumers, despite Trump's recent warning to the retail giant to "eat the cost" rather than raise prices.

    In his CNN interview, Bessent stated, "Walmart will be absorbing some of the tariffs, some may get passed on to consumers," while emphasizing that he expects inflation to remain in line. He pointed to declining gasoline prices, which currently average around $3.18 per gallon, as potentially offsetting some consumer concerns.

    The Treasury Secretary has been actively engaged in trade negotiations with China. During an appearance on NBC's Meet the Press, Bessent revealed that after discussions with Chinese officials, both countries concluded that current tariff rates, which have risen as high as 145%, were "unsustainable" and agreed to continue trade talks. This development comes just days after President Trump expressed optimism about reaching a deal with China, stating on his Truth Social platform that "China wants to make a deal. They just don't know how quite to go about it."

    Bessent's comments on the trade situation briefly moved markets on Tuesday, causing the S&P 500 to rise from 2% to 2.7% before settling back to 1.7% later in the day. This market volatility demonstrates the significant impact his statements can have on investor sentiment.

    On the domestic front, Bessent issued a statement on May 14 praising House Republicans for their progress toward enacting President Trump's economic agenda through reconciliation legislation. "The President's plan for prosperity is in full swing as a unified Republican Party works to drive economic growth while lowering costs from coast to coast," Bessent said, highlighting efforts to make the 2017 Trump tax cuts permanent.

    Bessent, who was sworn in as the 79th Treasury Secretary on January 28, 2025, brings 40 years of experience in global investment management to his role. Prior to joining the administration, he served as CEO and CIO of Key Square Capital Management, a global hedge fund he founded in 2015. As Treasury Secretary, he holds a significant position in the presidential line of succession, making him the highest-ranking openly LGBT person ever to serve in the federal government.
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    3 mins
  • Breakthrough in U.S.-China Trade Talks: Treasury Secretary Announces 90-Day Tariff Pause

    Breakthrough in U.S.-China Trade Talks: Treasury Secretary Announces 90-Day Tariff Pause
    May 15 2025
    Treasury Secretary Scott Bessent announced a significant breakthrough in U.S.-China trade relations during talks in Geneva this week. On May 12, Bessent reported "substantial progress" in negotiations aimed at addressing the United States' $1.2 trillion trade deficit with China. The meetings included Chinese vice premier and two vice ministers, with Bessent working alongside U.S. Trade Representative Ambassador Jamieson Greer to secure what appears to be a 90-day pause on tariffs between the two economic powerhouses.

    "I'm happy to report that we made substantial progress between the United States and China in the very important trade talks," Bessent stated from Switzerland, where he thanked the Swiss government for providing "this wonderful venue" that contributed to the productivity of the discussions. Full details of the agreement are expected to be released soon, with Bessent confirming that President Trump has been "fully informed" of developments.

    Ambassador Greer emphasized the swift nature of the agreement, noting, "It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought." The deal represents a potential turning point after weeks of economic turbulence following President Trump's earlier announcement of sweeping tariffs that triggered significant market volatility.

    Bessent's trip to Switzerland had been planned since May 8, when the Treasury Department announced his travel plans included meetings with Swiss President Karin Keller-Sutter and representatives from China. At that time, Bessent stated, "Economic security is national security, and President Donald J. Trump is leading the way both at home and abroad for a stronger, more prosperous America."

    The Treasury Secretary has been actively promoting the administration's economic agenda on multiple fronts. On May 13, he spoke at the Saudi-U.S. Investment Forum, highlighting the importance of the U.S.-Saudi relationship. A day earlier, on May 7, Bessent testified before the House Financial Services Committee, where he outlined the administration's economic strategy built on "trade, tax cuts, and deregulation," which he described as "interlocking parts of an engine designed to drive economic growth and domestic manufacturing."

    This recent diplomatic breakthrough represents a shift from the market uncertainty that followed President Trump's initial tariff announcements last month, which reportedly led to a $6 trillion drop in U.S. stock market value over two days. Bessent had previously faced criticism for downplaying these market reactions as "short-term," with some analysts questioning his position within the administration.

    The China deal announcement has given markets a reason for optimism, with analysts hoping for continued productive negotiations between the world's two largest economies in the coming months.
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    3 mins
  • New Treasury Secretary Steers US Economy Through Turbulent Waters

    New Treasury Secretary Steers US Economy Through Turbulent Waters
    May 13 2025
    Scott Bessent, recently installed as Secretary of the Treasury, has become a central figure in a highly turbulent period for U.S. economic policy and global markets. Over the past several days, Bessent’s actions and statements have had an immediate and substantial impact on international negotiations, the American economy, and market sentiment.

    This past weekend, Bessent concluded high-stakes negotiations in Geneva with his Swiss and Chinese counterparts. These meetings led to a notable breakthrough: the U.S. and China agreed to a 90-day pause on most tariffs, intended to ease tensions in a trade battle that had rattled global markets for weeks. The truce was announced following direct talks with Swiss President Karin Keller-Sutter and China’s top economic representative. This development, described by Bessent as a “step towards a more balanced international economic system,” was immediately reflected in a recovery in U.S. stock indices, which had previously endured a steep selloff triggered by reciprocal tariffs and shifting trade policies.

    Bessent’s public remarks have been closely scrutinized for clues about the administration’s broader economic direction. In a recent television appearance, he emphasized the Trump administration’s focus on “rebalancing the American economy” and strengthening U.S. negotiating positions abroad. Bessent has consistently echoed the view that economic security is integral to national security, positioning himself as a key architect of a more assertive U.S. approach to trade and fiscal policy.

    Despite the apparent diplomatic progress, Bessent’s tenure has been marked by considerable controversy and internal discord. He has been tasked with defending the administration’s sweeping tariff policies, which included a baseline 10 percent duty on imports and much higher rates for targeted countries, especially China. These measures triggered a $6 trillion decline in U.S. market value over just two days, a downturn Bessent characterized as a “short-term reaction.” He has reassured the public about the resilience of the U.S. financial system and dismissed predictions of an imminent recession, arguing that market corrections could ultimately yield long-term benefits by resetting global trade arrangements more favorably for the United States.

    Internally, reports suggest Bessent has faced isolation within the administration, fueling speculation about his long-term future at Treasury. Some sources indicate that he may be considering other roles, possibly at the Federal Reserve, amid doubts about his influence on White House decision-making. Still, Bessent has remained a steady advocate for his policies, asserting that U.S. leverage is strong due to the trade deficit with China, and that the burden of tariffs would be borne by exporting nations rather than American consumers.

    Bessent’s efforts have also extended to managing ongoing volatility in the cryptocurrency sector and unveiling proposals aimed at addressing long-term challenges such as Social Security and affordability. In recent podcasts and interviews, he has continued to stress optimism about U.S. economic prospects while cautioning that near-term volatility is the price of necessary structural change.

    As the Treasury Department and the markets digest the implications of the recent 90-day tariff pause and await further negotiations with China and other U.S. trading partners, Bessent remains at the center of a rapidly evolving economic landscape. His performance and decisions will likely continue to shape not only financial markets but also the broader trajectory of U.S. economic policy in the months ahead.
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    4 mins
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