bessent

U.S. Treasury Secretary Scott Bessent said over the weekend that this year’s holiday shopping season is one of the strongest in recent years, and he believes the American economy is on track to finish the year in solid shape.
“The economy has been better than we expected. We’ve had two quarters of 4% GDP growth,” Bessent said on Face the Nation. “And despite the Schumer shutdown, we’re going to close the year with 3% real GDP growth.”

Consumer spending remains the key engine of U.S. economic performance
According to current data, U.S. GDP dropped 0.6% year-over-year during the first months of 2025, but the economy sharply rebounded in the second quarter, climbing 3.8%.
Economists and the Treasury Department are now waiting for preliminary third-quarter figures, expected on December 23. The Atlanta Federal Reserve recently estimated annualized third-quarter GDP growth at 3.5%.
Consumer spending accounts for nearly 70% of U.S. GDP, which makes a strong shopping season crucial for overall performance. Even so, sentiment among Americans remains mixed. The University of Michigan’s consumer sentiment index reached 53.3 in December—up 4.5 points from November, yet 28% lower than last year.
Inflation continues to pressure households. The latest available report—delayed due to the government shutdown—shows annual consumer prices rising 3%, with grocery prices up 3.1%.

Trump rejects criticism, but voters are increasingly dissatisfied
President Donald Trump has dismissed concerns about rising costs of living.

He recently described the word “affordability” as “a Democrat con job” and “a Democrat scam.”
But the public is not fully convinced. According to recent polls, two-thirds of registered voters believe the administration is falling short on the economy and cost-of-living issues, highlighting growing frustration.
Bessent responded to Trump’s remarks by arguing that the administration “inherited inflation from Biden” and that negative public sentiment is heavily influenced by media coverage. He added:
“The American people don’t realize how good they have it. Democrats created scarcity—whether in energy or through over-regulation—which led to this affordability problem. Next year, I believe we’ll move from scarcity to prosperity.”

Trade ties with China: agreements remain on track, but progress is slow
Beyond domestic issues, Washington is closely monitoring Beijing’s compliance with bilateral trade commitments.

U.S. Trade Representative Jamieson Greer said China is currently adhering to the agreements.
“With China, it’s always about verifying and monitoring commitments,” Greer said on The Sunday Briefing. “The agreements we’ve reached are specific, concrete, and easy to track—and so far, we see that China is in compliance.”
Greer stated that China has fulfilled roughly one-third of its soybean purchase obligations for the current growing season. Although Beijing placed a series of large orders in late October, the pace of purchases has since slowed.
In late October, President Trump and Chinese President Xi agreed to extend a tariff truce, roll back certain export controls, and reduce various trade barriers. Several key elements of the deal, however—such as soybean purchases, the sale of TikTok, and licensing for the export of strategic minerals—are still in progress.
On Friday, Treasury Secretary Bessent and Greer held a video call with Chinese Vice Premier He Lifeng. According to Xinhua, the discussion was “in-depth and constructive,” with both sides expressing a desire to maintain stable ties and address mutual concerns about trade and the economy.
Bessent noted on Sunday that he does not expect China to speed up soybean purchases, although they are still expected to be completed within the current crop season.

Summary
Despite inflation pressures and political tensions, the U.S. economy continues to show surprisingly strong momentum. Robust consumer spending supports growth, while trade relations with China remain stable for now. Bessent predicts that next year could bring “a shift toward prosperity”—yet voter sentiment remains uncertain, making economic perception a major variable for America’s political and economic trajectory.

#economy , #usa , #Inflation , #Bessent , #GlobalMarkets

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Bessent told media that 2026 could be a “blockbuster year” for the U.S. economy citing fresh factory openings, renewed investment in manufacturing, and a wave of job creation as tangible signs of a rebound.
He also projected “low-inflation growth” for 2026 a rare combo growth without runaway inflation which if realized could create a sweet spot for both ordinary Americans (jobs, wages, lower prices) and investors seeking stability plus upside.
Underlying this optimism, Bessent and his team seem intent on shifting the U.S. economy away from what they called a “brittle” over-reliance on government-sector jobs toward a revitalised private-sector economy — manufacturing, small business, community banks, domestic investment.
In short: the tone is confident, but strategic — pointing to structural moves behind the scenes, not merely wishful thinking.
📈 What could “everything changes” actually mean — for economy, markets & crypto
Renewed industrial strength + jobs boom: New factories, expansion of manufacturing and investment in “real-economy” sectors may revive U.S. middle-class job growth and consumer demand — laying groundwork for long-term grwth.
Favorable macro conditions: If inflation stays under control while growth strengthens, real wages, consumption, and corporate profits could rise — a sweet spot for stocks, commodities, and risk assets.
Policy tailwinds + fiscal stimulus potential: The vibe suggests populist economic measures may continue (e.g. tax-incentives, tariffs, manufacturing incentives, “bringing jobs back”), which could boost investor and consumer confidence simultaneously.
Risk-on for non-traditional assets — including crypto: In a climate of low rates, pro-growth sentiment, and financial innovation, crypto and digital-asset investors may see increased demand — especially if institutional money flows back into risk assets.
That’s possibly why tickers like SXP, BARD, DCR (which you referenced) are being discussed: in a broader bullish macro environment, cryptos often get caught in the “risk-on” wave.
⚠️ But — keep some realism. The mix of optimism + uncertainty is real.
Some analysts caution that labor-market softness is still visible. According to a recent forecast from RBC, hiring momentum outside certain sectors remains weak, and job openings are concentrated in just a few areas implying growth may be uneven.
The structural shift Bessent refers to from government-driven to private-sector-led growth takes time. “Blockbuster” visuals (new factories, new jobs) might take quarters or years to materialize fully
so markets may overreact to statements, and sentiment could overshoot or correct.
Risk and uncertainty remain: global economic headwinds, slower demand, external shocks any could throw cold water on this optimism.
🌍 What this buzz means globally and why people everywhere (even outside the US) pay attention
A strong U.S. economy tends to ripple globally: trade partners, commodity exporters, even emerging markets may benefit as capital flows back to risk assets and global demand rises.
For global investors and crypto/FX markets, seeing the U.S. making a coordinated push policy + fiscal + industrial revival could re-ignite “risk-on” sentiment worldwide, possibly boosting assets across multiple geographies.
For people outside the U.S., this matters because global supply chains, trade, commodity cycles they all tie back to U.S. economic strength. A “great 2026” in America could mean ripple effects for economies everywhere.
🎯 What to watch now and what might truly trigger a “great year”
Here are key signals to monitor that could turn this hype into reality:
1. Concrete data on job growth & manufacturing output actual numbers on hiring, factory openings, manufacturing GDP increase.
2. Inflation + interest-rate behavior if inflation stays moderate and central banks ease policy (or at least hold steady), that supports growth without overheating.
3. Consumer spending & wage gains rising disposable income and consumer demand would signal a healthy “real economy.”
4. Follow-through fiscal and trade policy (tariffs, incentives, tax law) structural reforms and support measures that underpin long-term growth.
5. Market sentiment / capital flows if investment in equities, risk assets and even crypto picks up could confirm investor belief in the narrative.
#BinanceBlockchainWeek #Bessent #economy #Write2Earn
$SXP
$BARD

Hi friends
August 5, 2025 | Washington, D.C.
In a significant turn of events, former President Donald $TRUMP has officially removed Treasury Secretary Scott Bessent from consideration to replace Jerome Powell as Federal Reserve Chair. The reason? Bessent himself reportedly declined the offer, choosing instead to remain in his current role at the Treasury.
> “I love Scott, but he wants to stay where he is,” Trump told CNBC. “I’ll take him off, because I asked him just last night, ‘Is this something you want?’ [He said] ‘Nope, I want to stay where I am.’”
Trump’s updated shortlist now features former Federal Reserve Governor Kevin Warsh, White House economist Kevin Hassett, and two yet-to-be-named candidates. This shake-up comes as Trump continues to lambast current Fed Chair Jerome Powell, criticizing him for dragging his feet on implementing interest rate cuts. The former president has gone so far as to call Powell “a numbskull” and “a complete moron,” placing the blame for recent economic instability squarely on the central bank's leadership.
A Divided Fed in Uncertain Times
The Federal Reserve recently held rates steady amid global trade uncertainty and fragile economic indicators. But not without dissent: Fed Governor Christopher Waller and Vice Chair Michelle Bowman both pushed for a quarter-point cut, exposing deep internal division.
Further complicating matters, Fed Governor Adriana Kugler resigned just last week, leaving another vacancy on the board. Trump confirmed he will appoint a temporary replacement within days—an unusual four-month term, which many see as a possible audition for the permanent chair role once Powell’s term ends in 2026.
Bessent’s Influence Isn’t Over
Though Bessent has stepped away from the Fed chair spotlight, he remains a major player in Trump’s economic circle. He’s now leading high-level trade negotiations, including recent U.S.-China talks held in Sweden, with a critical August 12 deadline looming for tariff decisions. His presence at the negotiating table underlines his continuing influence in shaping economic policy—especially as it intersects with the 2025 campaign cycle.
Kevin Hassett, another name floated for Fed leadership, confirmed Bessent is still heavily involved in vetting potential candidates, suggesting that even from behind the curtain, Bessent's voice will shape who leads the Fed next.

Key Takeaways:
Scott Bessent is out of the running for Fed Chair.
Kevin Warsh and Kevin Hassett are top contenders.
$TRUMP will appoint a four-month interim Fed Governor—possibly as a test run.
Internal Fed tensions emerge over stalled rate cuts.
U.S.-China trade negotiations remain tense ahead of August 12 deadline.
The economic and political stakes are growing—and the markets are watching closely.
#FedWatch #CryptoNews #TrumpEconomy #Bessent #JeromePowell
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