Scott Bessent believes a new Fed chair could be named by October, with Jerome Powell’s successor likely to be appointed by May 2026, reflecting a shift in the administration’s monetary policy.
The Senate tax bill proposes an 11% cut in non-discretionary spending, expected to be completed before July 4. Bessent supports stablecoins as future buyers of US Treasuries.
Bessent emphasizes that the Genius Act has passed the Senate and is on track for quick approval, underscoring the role of stablecoins in the Treasury market and potential changes in long-term bond strategies.
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