Bloomberg Talks US Treasury Secretary Scott Bessent Talks Trump Tax Bill, Trade and the Fed
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Jun 30, 2025 
U.S. Treasury Secretary Scott Bessent shares insights on the Trump tax bill and its potential impact on the economy, including measures to address national debt. He discusses the bond market's current trends, particularly the declining 10-year treasury yield and the implications of issuing longer-term securities. Bessent also touches on the importance of upcoming Fed leadership changes and their influence on financial markets. Additionally, he highlights how tariffs affect housing affordability and the evolving landscape of cryptocurrency.
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Leadership Drives Tax Bill Progress
- Leadership from President Trump and key GOP figures has been crucial in pushing the tax bill toward completion.
- Effective coordination at the presidential and committee levels is central to policy progress.
Tax Cut To Accelerate Growth
- The Congressional Budget Office underestimates growth by assuming low, perpetual growth rates.
- The Trump tax bill, deregulation, and certainty could significantly accelerate economic growth beyond low projections.
Medicaid Spending Strategy
- The administration aims to "bend the curve" on Medicaid spending rather than cutting outright.
- Work requirements will encourage able-bodied individuals to return to work, focusing benefits on the most needy.