Keep pulling the thread on Scott Bessent.
The Trump administration's objective is to get the U.S. budget deficit below 3% of GDP by the end of the presidential term.
The U.S. budget deficit for the fiscal year ending September 30th contracted from approximately $1.8 trillion to $1.78 trillion.
The Federal Reserve is currently losing approximately $100 billion per year on its balance sheet operations.
The U.S. is forecasted to experience a fiscal contraction of $200 to $300 billion for the current calendar year, representing between 0.7% and 1% of GDP.
The Trump administration has used tariffs as a national security tool to negotiate trade deals and bring countries to the table on critical issues.
The Trump administration imposed "fentanyl tariffs" on Mexico, Canada, and China, which successfully compelled them to partner with the U.S. to combat fentanyl trafficking.
On October 8th, Beijing announced a worldwide export license requirement for any product containing at least 0.01% Chinese rare earths.
President Trump successfully countered China's rare earth export license threat by threatening a 100% tariff, which brought the Chinese to the negotiating table.
A Supreme Court ruling against the administration's use of tariffs is expected in January or February.
The candidates being considered for Federal Reserve Chair include Kevin Warsh, Kevin Hassett, Chris Waller, and Rick Rieder.
The Trump administration is loosening the regulatory regime for small and community banks to increase their lending capability.
The Trump administration has identified five to eight strategic industries where the U.S. must have domestic or near-shore production for national security reasons.