Speeches of the Treasury Secretary continue to be missing – strange, strange and dangerous.
On April 9, 2025, Scott Baby talked to the press near the Western Wing of the White House in Washington, Colombia District.
(Saul Loeb / AFP via Getty Images)
If there was a hedge fund billionaire Scott Kennet Homer distinguished Last fall, Donald Trump, to fulfill the duties of the 79th Treasury Secretary, thinking optimistic observers was something that differences from the clown crew, which circled around the president-he may be something adult in the room.
With four decades of experience in global finance, first as a key player on the Soros Fund management team, and then as Chief Executive Director and Chief Investment Director for his own key management management, the infant had to record work with the Democrats and Republicans. He collided with a calm, steep and assembled participant of the classroom class, who can simply guard from the worst instincts of a bankrupt and economically firm president.
It was not possible to ensure that the insult was going to resolve the riches or support the responsible tax policy that would make people like it pay their share. But he did not come out as he would tear out such an economic nonsense that Trump and his inner circle preferred Trump. Beesterpent talked a lot about tax reduction and debt reduction and deficit – standard if often contradictory goals – and evaded Trump’s more extreme language when it came to tariffs, believing that he saw them as them as them as them as tools that need to be used prudentlySeeking a “one -time price adjustment” that was “not inflation” rather than as a result of the attack on the frame on the framework of the modern world economy.
As a result, 15 Senate Democrats and Independent Senator Angus KingWho with the Democrats joined the Republicans, voting for confirmation of the Imps on Monday, with Senator-Corporate Senator Chris Kuns (D-De) saying“While I disagree with many of his political positions, in particular, his support for the extension of taxes for wealthy and tariff threats of President Trump, I hope he focus the treasury on the reduction of middle -class Americans.”
This hope was spoiled by the infant.
In the administration, which directs securely unreliable signals regarding the economy, the Minister of Finance has identified himself as a sustainable source of inappropriate spoken points and wildly inaccurate forecasts. And they continue to go against the background of market chaos and fastening the assumptions that Tariffs on Trump’s hysteria Perhaps to eventually destroy the economy ways that recall the tortured heritage of the President of the Republican Herbert Hoover.
Last month, the infamous claimed that Trump’s decision to smear the main tariffs for China would not harm consumers. “China will pay for tariffs because their business model exports its way from this inflation,” he state. “They will eat any tariffs that are ongoing.”
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This week, China has announced that it will resist Trump’s tariff step by raising the US import duties to 84 percent. NBC’s report from Hong Kong was headlines: “China fits Trump’s tariff for tariffs. It has other ways it can also return.” Everything went so miserable that even if Trump gave up some mutual tariffs on Wednesday, he went to tariffs for Chinese goods to 125 percent.
But the infant not only read the global picture wrong. He also proved that he did not face the problems of Americans who are watching the evaporation of his pension portfolios. On Sunday, after a two-day downturn, which saw that stock values were destroyed by 10 percent or drawing at least $ 6 trillion in investors’ assets, and caused serious damage in accounts 401 (K), to which workers offered to bring their livelihood-resistant savings detach Meet the press Leading Kristen Welker, “Americans who have been postponing their savings (account) for years, do not look at the daily fluctuations of what is happening.”
In fact, they did exactly that; As a NBC header from two days earlier report“Retirees” are stunned “when the market shocks over the tariffs are reduced by 401 (k) s.” The network explained: “Some change their habits, and others are worried about their future quality of life.”
In the same Meet the press Interview, Trump’s Treasury Secretary said, “I don’t see the reasons that we need the price of the recession”-Novat as the usual Trump’s apologet, hedge fund manager Bill Akmanwas prevention What is poorly thought out and excessively aggressive tariff regime can lead to circumstances if “a large -scale increase in uncertainty leads to the economy into the recession potentially serious.”
The infamous also claimed on Sunday: “Interest rates reached their low year, so I expect the bids on the mortgage will be compiled.” But the instability in the bond market, which has already begun to the surface until Sunday, indicated that the mortgage rates will be summoned. And probably this week fixed rates on a 30-year mortgage Achieving a two -month maximum.
By Wednesday, the Bygrusent was mercilessly backed by the fact that almost everything was wrong in their public reprimands. The secretary of the Treasury seemed to acknowledge that his curly tariffs on Trump’s hysteria had gone. There were reports of behind -the -scenes meetings where the infant began to warn Trump that the arrogant messages of the tariff administration should be adjusted.
“It was necessary to align the administration’s tariff communications, said Trump’s implication and more focused on the endgans for Americans: the best trade deals with foreign peoples, according to people, are familiar with the conversation,” – CNN explained on Monday. “The risk if it does not, there will be further upheaval on the market, transmitted to the infamous.”
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On Tuesday, further upset on the market occurred, and when the bond market on Wednesday left the rails, Trump announced his partial pauseWhat is another wild fluctuation – this time overflows – in the markets.
No serious observer presents that chaos is over. On Monday on Monday, CNN about the Treasury Secretary’s attempt to redo the messages showed a note: “Just as the I / her indentation posted on social media about leading negotiations with Japan, trade advisor Peter Navaro published a new article on the Financial Times, speaking with a firm line against the weakening of the tariff and again.”
This is also reported about it
Another of Trump’s best economic advisers acknowledged that there are many perspectives.
“There are conflicting stories because everyone has an opinion,” said Stephen Miran, chairman of the White House Economic Advisers Council during a speech at the Hudson Institute. “This is normal. Outraged is how the group can be avoided.”
However, the contradictory stories arising from the White House also caused confusion on Wall -Street and in foreign capitals.
It was even worse on the main street and at the kitchen tables of the workers of the Americans, despite the affirmation of Scott Holnt that most Americans “do not look at the daily fluctuations of what is happening.” “Last week the market crawled 401 (K),” ” Yahoo Finance reported on Wednesday. “Said sale began.” A lot of Americans have moved out of stock to bonds just to meet on Wednesday afternoon title: “Wild swings in the Treasury experience investors that something is” to blow up “in the markets.
These are the moments when people need sounds, a serious secretary of the treasury that can inspire confidence. Unfortunately, they were stuck with the cattle.
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