1. The following are excerpts from Edith Olmsted's news report in newrepublic.com dated April 5, 2025:
(Begin excerpts)
Treasury Secretary Scott Bessent may be planning to cut and run after Donald Trump’s disastrous “reciprocal tariff” announcement earlier this week.
During an appearance on MSNBC’s Morning Joe Friday, contributor Stephanie Ruhle reported that the key Cabinet member is already looking for an escape hatch.
“My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he’s not even close to Scott Bessent or listening to him,” Ruhle said. “Some have said to me, he’s looking for an exit door to try to get himself to the Fed, because in the last few days he’s really hurting his own credibility and history in the markets.”
To be sure, Trump’s tariff policy represents a sort of defeat for Bessent, a former hedge fund manager who entered office under the delusion that he might actually succeed in stopping Trump from wrecking the economy. Should he flee the administration now, he would likely forfeit what little credibility remains.....
Ruhle’s sources told her Bessent must understand just how ridiculous Trump’s tariff policy is because he “actually understands how the markets work, and what’s happening right now is only going to hurt markets,” she said.... (End excerpts)
Source Link: https://newrepublic.com/post/193634/donald-trump-treasury-scott-bessent-tariffs-quit
2. Poster's Comment:
Poor Scott Bessent! Like Atlas, a Titan condemned to bear the heavens on his shoulders for eternity in Greek mythology, Bessent has to hold up the "tariff sky" for his White House boss. The sooner he finds his "Liberation Day" the better for him, otherwise the weight of his boss' "tariff sky" will press his body flat to the ground. Eventually he could end up as an "unhinged bald eagle warrior" instead of being an "unhinged white-haired bored eagle warrior".
Additional Reference:
newrepublic.com
www.efinancialcareers.sg
www.csis.org
dreamlittlestar.com
(Begin excerpts)
Treasury Secretary Scott Bessent may be planning to cut and run after Donald Trump’s disastrous “reciprocal tariff” announcement earlier this week.
During an appearance on MSNBC’s Morning Joe Friday, contributor Stephanie Ruhle reported that the key Cabinet member is already looking for an escape hatch.
“My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he’s not even close to Scott Bessent or listening to him,” Ruhle said. “Some have said to me, he’s looking for an exit door to try to get himself to the Fed, because in the last few days he’s really hurting his own credibility and history in the markets.”
To be sure, Trump’s tariff policy represents a sort of defeat for Bessent, a former hedge fund manager who entered office under the delusion that he might actually succeed in stopping Trump from wrecking the economy. Should he flee the administration now, he would likely forfeit what little credibility remains.....
Ruhle’s sources told her Bessent must understand just how ridiculous Trump’s tariff policy is because he “actually understands how the markets work, and what’s happening right now is only going to hurt markets,” she said.... (End excerpts)
Source Link: https://newrepublic.com/post/193634/donald-trump-treasury-scott-bessent-tariffs-quit
2. Poster's Comment:
Poor Scott Bessent! Like Atlas, a Titan condemned to bear the heavens on his shoulders for eternity in Greek mythology, Bessent has to hold up the "tariff sky" for his White House boss. The sooner he finds his "Liberation Day" the better for him, otherwise the weight of his boss' "tariff sky" will press his body flat to the ground. Eventually he could end up as an "unhinged bald eagle warrior" instead of being an "unhinged white-haired bored eagle warrior".
Additional Reference:
Scott Bessent Finally Admits the Truth About Trump’s Tariff Costs
Trump’s treasury secretary knows exactly who’s paying for his sweeping tariffs.
newrepublic.com
Morning Coffee: The macro hedge fund manager whose resignation now would be catastrophic. Ken Griffin's favourite book
Hope and pray that Bessent stays.
“Liberation Day” Tariffs Explained
This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.
The Story of Atlas a Greek Myth - Dream Little Star
The Greek myth of Atlas: a tale of strength, stars, and eternal duty, adapted for children's wonder and learning. Perfect to Read at bedtime
dreamlittlestar.com
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