US Treasury Secretary Bessent: Maybe inflation is getting under control

Joshua Gibson FXStreet

United States (US) Treasury Secretary Scott Bessent hits the wires on Thursday, touching on a variety of subjects during an interview on CNBC's "Squawk on the Street" segment, shrugging off a multi-week decline in US equity indexes as "recent volatility."

Key highlights

We are focused on the real economy.

The aim is long-term gains for markets and the American people.

I am not concerned about a little volitity over three weeks.

We are focused over the medium and long-term.

A US government shutdown would be disruptive.

Regarding Trump's threatened 200% tariff on EU alcohol: I am not sure why one or two items from one or two trading blocks is a big deal.

Aside from metals and likely autos, everything else is up for grabs for tariff negotiations.

If trading partners want to ratchet things up, surplus countries will take the biggest hit.

Companies are generally supportive of transition away from government spending.

I am confident Trump tax bill is on track.

Detox is not a euphemism for recession.

We are trying to get tax bill done and controlling expenses.

Regarding the US dollar weakening: A lot was priced in, it is natural to see an adjustment.

We are hoping to get to a tax bill in the coming weeks.

We've had a big unwind in the markets.

I blame democrats for the potential shutdown.

We want to protect strategic industries and jobs.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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