At a cabinet meeting on Thursday, as US equity indices showed new signs of distress at Donald Trump’s trade policies, the president turned to Scott Bessent for an update on the markets.
“I don’t . . . see anything unusual today,” the Treasury secretary responded, trying to offer Trump some comfort by citing lower inflation figures, a decline in oil prices, a well-received US bond auction and the expected positive outcome of talks to defuse tensions with America’s big trading partners.
“We will end up in a place of great certainty over the next 90 days on tariffs,” he promised.
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