We inherited the worst budget deficit in history — in history — when we were not in a recession or not at war.
Scott Bessent
The Public Record
U.S. Secretary of the Treasury in the Trump administration; hedge-fund manager and founder of Key Square Group.
I do think these Trump accounts are going to be game changers in terms of financial literacy in terms of making people want to learn about it.
[T]rade policy, industrial capacity, and national security are inseparable.
[E]conomic security is national security, for a nation that cannot manufacture, mine, ship, or refine its needs gradually cedes its strength—and sovereignty—to others.
We measured abundance at the checkout counter rather than the factory gate.
We treated efficiency as a substitute for resilience, and consumption as a measure of prosperity.
All nations should reject Iran’s efforts to disrupt the free flow of commerce.
The U.S. will not tolerate any effort to impose a tolling system in the Strait of Hormuz.
The U.S. Treasury will aggressively target any actors involved—directly or indirectly—in facilitating tolls for the Strait and any willing partners will be penalized.
I predicted that gas and oil prices would come down very quickly after the conflict ends.