Treasury Secretary Scott Bescent said on Bloomberg TV's “Bloomberg Surveillance” on Thursday that everything President Donald Trump was doing was “fluffy.”
Host Jonathan Ferro said, “Let's start with the debt market. What people were hoping to do was probably change some of the Treasury's issues. Last year about Yellen in the summer of the day. What I said in the summer of Yellen was managing monetary policy through the issuance of the Ministry of Finance. Then you are basically keeping her plans. Understanding where you came from. Can you help me with this?”
Bessent said: “The previous administration shortened some of the period, not even shortened it. We kept our policy. And over the medium term, everything that President Trump's administration is doing is disguised. I believe it will unfold as it becomes clear. We will reduce energy costs. We plan to reduce what Doge does from a cost-cutting perspective. Tax cuts and employment laws are permanent When it comes to it, I think I have a pretty good story as an increase in revenue, a decrease in costs, and like you said, as the country's top bond salesman.”
He added: If the market starts to realize what we are doing and inflation starts to drop, we will see – it will depend on the path. That's the ultimate goal, but I'm not going to let that know now. ”
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