Closing Bell Closing Bell Overtime: Treasury Secretary Bessent On Trade With Canada, China and Europe 6/27/25
Jun 27, 2025
U.S. Treasury Secretary Scott Bessent discusses critical trade negotiations with Canada and China, revealing insights into the complexities of pulling out of talks and the state of a rare minerals deal with China. He also addresses rumors about potentially replacing Fed Chair Powell. Alongside him, market commentator Mike Santoli analyzes record highs for the S&P 500 and Nasdaq, explores investor sentiment amid bond yield fluctuations, and interprets market movements reflecting ongoing trade tensions. It's a candid dive into the intersection of politics and market dynamics.
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Fed's Late Inflation Response
- The Federal Reserve was late acting on inflation in 2022, letting it get out of control.
- This delayed response is acknowledged as a key concern in current economic policy discussions.
Fed Chair Succession Plans
- The Fed chair opening will occur next year with potential early appointment nominations later this year.
- Chair Powell could remain on the Fed board even if he leaves the chair position.
Bessent on Fed Chair Speculation
- Scott Bessent prefers continuing current Treasury work but is open to Fed chair if the president desires.
- He values progress on peace, trade, and tax deals over a federal reserve role.