Topics & People
Director of the National Economic Council who commented on a potential AI review process.
Individuals being considered for Chairman of the Federal Reserve. Bessent, who is part of the interview process, notes that all candidates want to shrink the Fed's footprint and increase its predictability.
Former Chairman of the Federal Reserve who initiated Quantitative Easing (QE). Bessent recalls that Bernanke explicitly told people to 'go buy equities' as the purpose of the policy.
The 2008-2009 economic crisis. Bessent argues that the over-constricted regulatory regime created in its aftermath crippled the economy and forced the Fed to become 'the only game in town' with policies like QE.
Federal Reserve Bank branch reporting on the effective funds proxy rate.
Former Chairman of the Federal Reserve, praised by Bessent as a model for having an 'open mind' about the 1990s productivity boom, which allowed the economy to thrive.
A 15-year period of inflated asset prices, which Scott Bessent attributes directly to the Federal Reserve's prolonged, post-GFC policy of Quantitative Easing (QE) and low interest rates.
The understanding of financial concepts. The administration's 'Trump Accounts' initiative is designed to dramatically increase financial literacy and market participation among all Americans.
A term describing the administration's policy of the federal government taking equity stakes in strategic private industries (like semiconductors and pharma) for national security reasons.
The strategic effort to bring offshore manufacturing and supply chains back to the United States.
A monetary policy of large-scale asset purchases by the Fed. Bessent criticizes its prolonged use after the GFC, arguing it inflated asset prices, created a two-tier economy, and was an 'engine of inequality'.