The Michael Knowles Show Secretary of the Treasury & Michael Knowles: Scott Bessent White House Interview
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Mar 30, 2025 In a landmark conversation, the newly appointed Secretary of the Treasury shares insights on the U.S. economy and Trump's bold economic strategies. They tackle issues like inflation, market stability, and the importance of lowering mortgage rates during a housing crisis. The discussion also dives into tax reform efforts amidst fiscal concerns, highlighting bipartisan cooperation on extending tax cuts. Lastly, the conversation covers how tariffs and budget strategies aim to protect jobs while reshaping manufacturing in America.
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Housing Affordability Crisis
- The Biden administration's policies created an affordability crisis, especially in housing.
- Lowering long-term interest and mortgage rates is crucial to address this.
Tax Cut Negotiations
- Extending and expanding Trump's tax cuts is a priority, including proposals like no tax on tips and Social Security.
- Negotiations with fiscal hawks are ongoing, but there's optimism for a deal by early summer.
The Purpose of Tariffs
- Tariffs serve multiple purposes: raising revenue, protecting US industry, and as negotiating tools.
- The final tariff policy will be clearer after April 2nd, and non-tariff barriers will also be addressed.