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Treasury Secretary Bessent: Had Had Constructive Meeting With Fed Chair Jay Powell
Posted
February 6, 2025
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February 6, 2025
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0:40Now PlayingUS Treasury Secretary Scott Bessent says he had a constructive first meeting with Federal Reserve Chair Jerome Powell. Bessent says he's sure Powell will "do the right thing" when it comes to monetary policy. Bessent speaks with Bloomberg's Saleha Mohsin.
US Treasury Secretary Scott Bessent says he favors a strong dollar and has no plans to alter the government’s debt-issuance plans, showing a cautious approach toward financial markets from an administration that’s elsewhere rapidly upending the status quo.
During the election campaign, President Donald Trump expressed concern about the strength of the dollar, given that it makes US products more expensive overseas. And Bessent criticized the debt policies of his predecessor, Janet Yellen, by saying she was financing the deficit with a lot of short-dated debt to keep the pressure off longer-term interest-rates and spur the economy.
But in an interview Thursday, Bessent indicated he has no imminent plans to break from previous currency and debt-sales policies, both of which are being closely watched in financial markets.
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