US Treasury sec Bessent

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.
Source: Forex Live