Post by
deepoil0808 on Nov 23, 2024 4:12pm
Trump wants STRONG US $$$ + Low rates
Trump names Scott Bessent as Tressury Secretary
He is a hedge fund billionaire of Key Square Capital Management and is well liked by Wall Street. He worked for both Republicians and Democrats. He worked closely with Soros. He has bipartisan support. This is what are his priorities:
Deficit Reduction
- he wants the fat cut out of government. He wants to balance the budget and he wants to pay down the $ 35 trillion tax debt.
Federal Reserve Powell
- he wants Trump to fire Powell or not renew his contract. The Fed has made a mess of interest rates and Trump wants to have a say in interest rate policy. He wants lower rates.
Tariffs
- he is for a one (1) adjustment for tariff and all concentrated on one country CHINA. He said that they will be given a choice, either pay tariffs or invest in America and hire Americians.
Cutting Taxes and Eliminating regulations
- he is in favor of cutting taxes and also wants most of the regulations removed as these are costly and also block American companies from succeeding. Too much red tape.
Strong Dollar
- he wants a strong dollar as the US currency must remain the reserve currency of the planet. They are in competition with China and do not want to lose this reserve status.
From other news:
- it appears that Trump has been briefed on the importance of having critical minerals made in USA, to eliminate reliance on China. Therefore he will leave the Inflation Reduction Act intact. For symbolic reasons he will eliminate $ 7,500 subsidy for EV but, will also eliminate most of the regulations on EV cars thereby making them less costly and more quickly accepted in the marketplace.
https://apnews.com/article/treasury-trump-biden-finance-elections-bessent-transition-8df8be88e4c83df4b9f3c4238966e79d