The Fox News Rundown
Business Rundown: Trump's "First 100-Hour Agenda"
Nov 25, 2024
In this discussion, Stephen Moore, a former Trump senior economic advisor and economist at the Heritage Foundation, dives into President-elect Trump's nomination of Scott Bessent as Treasury secretary. Moore sheds light on Bessent's '3-3-3' economic growth plan and how it addresses budget deficits. He also emphasizes the role of legal immigration in economic expansion and tackles the concerning withdrawal of young men from the job market. Finally, he lays out a compelling 'first 100-hour agenda' aimed at jumpstarting economic policy.
15:00
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Quick takeaways
- Scott Bessent's nomination as Treasury Secretary is seen as a positive shift for financial markets and free market policies.
- Addressing workforce issues through legal immigration and work-for-welfare requirements is essential for sustainable economic growth and productivity.
Deep dives
Scott Bessent's Nomination and Market Implications
Scott Bessent's nomination as U.S. Treasury Secretary is expected to influence financial markets positively, as he is recognized as a strong advocate for free market policies. His background and experience in managing hedge funds are seen as assets in navigating complex economic challenges, including the nation's significant debt. Bessent's proposed 3-3 plan aims to reduce the budget deficit to 3% of GDP, stimulate economic growth to 3%, and increase oil production, showing a proactive approach to economic revitalization. The market's positive reaction to his nomination indicates investor confidence in a potential shift toward less regulation and more open capital markets.
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