Bessent was interviewed on Fox ‘news’.
He was asked if the checks Trump will be sending out to Americans for $2000 would be inflationary.
Bessent answered that “Maybe we can persuade Americans to save that”.
Idiotic answer. The thing is, Bessent is not an idiot. Slimy politician, yes.
There you have it folks. Further inflation in the pipeline for the US. It took years for the Federal Reserve to come to grips with the pandemic stimulus, its difficult to see any rate cut path ahead lasting long with this new inflation about to roll in.
This article was written by Eamonn Sheridan at investinglive.com.