Squawk Pod Treasury Secretary Scott Bessent on Shutdown Day 2 10/2/25
Oct 2, 2025
Treasury Secretary Scott Bessent, who plays a crucial role in shaping fiscal policy, discusses the ongoing government shutdown and its economic implications. He emphasizes the need for trust in negotiations and the likelihood of a clean continuing resolution. Emily Wilkins provides insights on the political dynamics in Washington, while Sharon Epperson breaks down tax changes and charitable giving strategies. Expect an intriguing perspective on the search for the next Fed chair and the complexities of U.S.-China trade relations.
AI Snips
Chapters
Transcript
Episode notes
Shutdown Raises Economic Uncertainty
- The shutdown delays jobs and other economic data, increasing uncertainty for the Fed and markets.
- Each additional week compounds impacts like missed paychecks and higher economic costs.
Trust Determines Short-Term Deals
- Trust and credible guarantees will determine whether senators accept a short-term funding deal.
- Senators need tangible terms and timelines, not just promises, to cross party lines.
Politics, Not Process, Is The Sticking Point
- Scott Bessent framed the impasse as political, blaming Senate Democratic leaders for blocking a clean continuing resolution.
- He argued additional Democrat spending would be inflationary and unnecessary given current growth.