...other than that he blipped Huk's gaydar.
Last month, Bessent suggested that Trump have a “shadow Fed Chair.” This would mean nominating Powell’s successor before his second term is complete.
5 Things to Know About Scott Bessent, Trump’s Treasury Secretary Nominee
The next treasury secretary will have a vast portfolio to employ Trump’s economic agenda.
www.theepochtimes.com
Tariff Defender
Bessent has largely endorsed Trump’s pursuit of tariffs, though with some caveats.
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Recently appearing on CNBC, Bessent stated that tariffs are an “amazing tool,” but would need to be “layered in gradually” to ensure that higher prices show up over time. The increase in prices, he noted, could be offset by disinflationary policies like reducing regulations.
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He’s Called for a ‘Shadow Fed Chair’
Last month, Bessent suggested that Trump have a “shadow Fed Chair.” This would mean nominating Powell’s successor before his second term is complete.“You could do the earliest Fed nomination and create a shadow Fed chair,” Bessent said. “And based on the concept of forward guidance, no one is really going to care what [Fed Chair Jerome] Powell has to say anymore.”
If Trump were to employ his three-point economic proposal, the Fed could then transition “into a proper easing cycle.”