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cover of episode Treasury Secretary Scott Bessent: The Market’s Detox 3/7/25

Treasury Secretary Scott Bessent: The Market’s Detox 3/7/25

2025/3/7
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Squawk Pod
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This segment discusses the market's reaction to reduced government spending, describing the volatility experienced by the S&P, Dow, and Nasdaq. The president's lack of focus on the stock market is also noted, leading to uncertainty among investors.
  • Market volatility due to reduced government spending
  • Longest streak of 1%+ daily market moves in four years
  • President's lack of focus on the stock market

Shownotes Transcript

In an extended interview, Treasury Secretary Scott Bessent discusses the Trump administration’s tariffs, including the timeline of his trip to Kiev and President Zelenskyy’s trip to Washington, DC. Secretary Bessent considers the strength of the U.S. dollar, President Trump’s executive order establishing a strategic bitcoin reserve), and what he calls the market’s “detox” from excessive government spending. Plus, CNBC’s MacKenzie Sigalos explains bitcoin’s reaction to the strategic reserve and the likelihood of foreign governments following suit. 

 

MacKenzie Sigalos - 08:33

Scott Bessent - 16:45

 

In this episode:

Becky Quick, @BeckyQuick)

Joe Kernen, @JoeSquawk)

Andrew Ross Sorkin, @andrewrsorkin)

Cameron Costa, @CameronCostaNY)