Bessent Defends White House Economic Moves to Wary Business Leaders
In a pivotal address at the Milken Institute Global Conference, U.S. Treasury Secretary Scott Bessent staunchly defended the White House's economic strategies, aiming to reassure business leaders concerned about recent policy shifts. Emphasizing Strategic Uncertainty Bessent highlighted the administration's approach of "strategic uncertainty" in economic negotiations, suggesting that unpredictability can be a valuable tool in securing favorable trade deals. Addressing Business Leaders' Concerns Acknowledging the apprehensions of business leaders, Bessent emphasized the administration's commitment to fostering a conducive environment for investment and growth. He pointed to legislative efforts aimed at making small business deductions permanent and enhancing tax incentives for research and manufacturing. Market Resilience Amid Policy Shifts Despite market volatility and concerns over tariffs, Bessent expressed confidence in the resilience of U.S. financial markets, describing them as "antifragile" and capable of adapting to policy changes.