If a country with a free market trades with a managed economy, it in effect imports the industrial-policy choices of the managed economy. And because trade clears on a global basis, countries that run significant imbalances affect all participants in… — Scott Bessent Copy Share Image
President Trump is right that actual free trade is desirable. It might seem counterintuitive from a free market perspective, but he is also right that in order to actually create a freer and more extensive trading system over the long… — Scott Bessent Copy Share Image
If Vice President Albert Arnold Gore, Jr. had won his home state of Tennessee on November 7, 2000, he would have become president of… — Scott Bessent Copy Share Image
Our firm: We study history. We think about the future. We try to analyze what's going on in the present. — Scott Bessent Copy Share Image
Tariffs can't be inflationary because if the price of one thing goes up, unless you give people more money, then they have less money… — Scott Bessent Copy Share Image
President Trump's first-term tariffs did not raise the prices of the affected goods, despite predictions back then that the tariffs would prove inflationary. Indeed,… — Scott Bessent Copy Share Image
We are stretching our nation's finances and creditworthiness so thin that we may find ourselves unable to afford to defend our interests around the… — Scott Bessent Copy Share Image
Treasury Secretary Janet Yellen has distorted Treasury markets by borrowing more than $1 trillion in more-expensive shorter-term debt compared with historical norms. Terming out… — Scott Bessent Copy Share Image
The original sin of Bidenomics was the American Rescue Plan, which became law in March 2021. — Scott Bessent Copy Share Image
Used strategically, tariffs can increase revenue to the Treasury, encourage businesses to restore production and reduce our reliance on industrial production from strategic rivals. — Scott Bessent Copy Share Image
Academic economists have consistently discredited themselves by wrongly warning against the policies of President Trump. — Scott Bessent Copy Share Image
Allowing the private sector rather than the government to allocate capital is crucial to growth. — Scott Bessent Copy Share Image
Despite its many flaws, abandoning the international trading system would be a major economic and strategic mistake. Instead, the United States must adopt policies… — Scott Bessent Copy Share Image
