Scott Bessent has presented no plan to make main street thrive if Trump imposes a new round of trade blockades in 90 days.
His comments full of inane and mindless aphorisms about its time for Main Street to propser and for Wall Street to step back have no basis in real world economics, where the stock markets and companies listed there with their share prices are a part and parcel of the capacity for Main Street to prosper.
Bessent has again presented a false alternative. Moreover, he has not put forward any realistic plan to supply the liquidity needed for US companies and consumers to weather the next round of blockade tariffs apart from risible tax relief on tips, on overtime etc
In short, the entire ghastly, horrible meltdown could happen again in 90 days.
Companies need to take legal action and make it clear to the Trump admin, they will pay for their recklessness.
https://www.zerohedge.com/personal-finance/its-main-streets-turn-restore-american-dream-us-treasury-secretary-warns-wall
From
.US. Secretary of the Treasury Scott Bessent laid out President Trump’s financial policy priorities for the American Bankers Association (ABA) on Wednesday, saying that Main Street America will now take priority.
Bessent speaking at the ABA’s Washington Summit, said, “For too long, financial policy has served large financial institutions at the expense of smaller ones— no more.”
Bessent added,
“What will keep us from having a recession is making sure that the tax bill doesn’t expire, adding back 100% depreciation and then adding some of President Trump’s agenda — no tax on tips, no tax on Social Security, no tax on overtime.”
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