The Wall Street Journal recently published an in-depth feature, based on interviews with over 30 officials and Wall Street figures, revealing U.S. Treasury Secretary Scott Bessent's internal management style and economic performance during his 20 months in office. The report indicates that Bessent's fiery temper and tough demeanor led to the departure of several key Treasury officials, and he tends to centralize power within his trusted inner circle. Despite this, he remains highly trusted by President Donald Trump.
However, Bessent's "3-3-3" economic targets promised to Trump (budget deficit reduced to 3% of GDP, 3% GDP growth, and 3 million barrels per day increase in oil production by 2028) have not been achieved. The current economic growth rate is approximately 2%, oil production has increased by less than 1 million barrels per day, the budget deficit has exceeded 6% of GDP, and the total U.S. debt has surpassed $40 trillion. U.S. government bond yields have reached a two-decade high, raising market concerns about Bessent's management style and unfulfilled economic promises.
The Wall Street Journal reveals US Treasury Secretary Scott Bessent's 20-month tenure: hot-tempered, nepotistic, economic goals unmet but deeply trusted by Donald Trump.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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