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Both Fed Chair Jerome Powell and Treasury Secretary Scott Bessent have recently laid out their views and thoughts during TV interviews.
A lot of investors paid close attention to Powell’s latest remarks, where he expressed concerns over the economy and essentially highlighted that there would be no "Fed put" for the market.
Meanwhile, I’d argue Bessent’s tone was a lot more bullish, and he even suggested that there were plenty of “monetary tools” the Treasury and Federal Reserve could and would use if the situation arose.
But who is right? And what matters most?
While the Fed is the monetary authority, Treasury appears to be slowly paving the way to a much larger role in policy.
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