Glen Capelo, who spent more than three decades on Wall Street bond-trading desks and is now a managing director at Mischler Financial Group: "Scott is a fiscal hawk and he definitely will be positive overall for the economy and the markets. He wants to rein in spending. Bessent wants to get the Secretary of the Treasury back in line with the markets." The gist of tariff policy under Bessent is that companies may have a certain amount of time to ensure they are fueling the US economy or else face tariffs. "It's not the sky-is-falling inflation-is-coming tariff philosophy that many talk about. So I think it's going to be great for America."
John Fagan, principal at Markets Policy Partners: Fagan, who ran the US Treasury's markets monitoring group from 2014 to 2018, said Bessent's past comments and views stand to shift once he's faced with the reality of the Treasury secretary role. "When people are in the markets, their commentary on markets is indelibly tinged by what their book is. However, when decisions are made about Treasury issuance, those are extremely consequential decisions that are made with large groups of people around the table and enormous amounts of data and considerations that really spring from the stable and predictable."
Collection
[
|
...
]