Treasury Secretary Scott Bessent recently took himself out of the running to take over as Chair of the Federal Reserve at the end of Jerome Powell’s term. (Or when Trump fires him illegally.) Perhaps it has something to do with his serious flub recently when he said the quiet part out loud about privatizing Social Security. Either way, Trump is on a mission to cut the Federal Funds rate to as low as one percent. In today’s episode, we game it out to explain what would happen if rates suddenly dropped so low in this economic environment. (Spoiler: It would be catastrophic for the average American.) Then we reveal what Trump’s actual motives might be for doing so.
Chapters
Intro: 00:00:40
Post Show Musings: 00:14:59
Resources
The New York Times: Trump says Treasury’s Bessent rules out replacing Powell as the Fed chair.
MSNBC: Bessent walks back suggestion that Trump accounts are 'backdoor' to privatize Social Security
UNFTR Resources
Stablecoin and the Stable Genius: Donald Trump’s Plan to be the Central Banker to the World
Video: Trump’s SHADOW CRYPTO Network is WORSE Than You Think
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