Squawk Pod Treasury Sec. Scott Bessent: Let’s Examine the Entire Fed 7/21/25
Jul 21, 2025
Treasury Secretary Scott Bessent, a key player in U.S. economic policy, dives into urgent trade agreements with the EU, Japan, and Indonesia, just days before a critical tariff deadline. He candidly shares his attempt to persuade President Trump against dismissing Fed Chair Jerome Powell, calling for a thorough evaluation of the Federal Reserve. The conversation seamlessly blends serious economic insights with lighter topics, including luxury investments in private aviation and the dynamics of golf and lifestyle, making for a captivating listen.
AI Snips
Chapters
Transcript
Episode notes
Trade Deal Strategy Emphasizes Quality
- Trade negotiations prioritize quality over speed amid long-standing imbalances with partners like the EU and Japan.
- The EU's complex structure slows deals; Japan's political shifts do not alter the U.S. focus on best trade terms.
Examining Federal Reserve Effectiveness
- The Federal Reserve's entire institution needs a critical review of its success and policy impact.
- Persisting monetary policy mistakes resemble regulatory failures that would prompt investigations in other sectors.
Fed Independence Key to Market Stability
- Fed independence is crucial for market stability and policymaking distinct from politics.
- Removing Chair Powell could crash markets by eroding trust in this independence.