US Treasury Pick Bessent ‘Is a Fiscal Hawk’: Wall Street Reacts
Published On Nov 22, 2024, 8:15 PM
Scott Bessent's nomination as U.S. Treasury Secretary is generating positive reactions among Wall Street experts. Seen as a 'fiscal hawk', Bessent aims to control government spending and align the Treasury with market needs. His background in managing a macro hedge fund is viewed as beneficial for economic stability. Analysts express cautious optimism about his fiscal policy intentions, including a phased approach to tariffs and a focus on preventing inflation-induced market reactions. However, there's some concern regarding his past comments on monetary policy and the Federal Reserve's independence, which could lead to volatility if not handled carefully.
Stock Forecasts
TLT
Positive
Bessent's fiscal discipline and understanding of market dynamics suggest potential stability and growth in the bond market, particularly U.S. Treasuries.
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