US Treasury Secretary Bessent says no reason to believe 301 studies won't be successful; structural inflation has been in services; assuming 301 go through, minimal tariff revenue drop
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US Treasury Secretary Bessent doesn't think anyone should do dot plot projections and applauds Warsh for eliminating forward guidance
US PRE-MARKET MOVERS: Mag-7, HTZ, CBRS, FDX, GOOG, GME, TTWO, MU, Samsung Electronics
US Treasury Secretary Bessent says no reason to believe 301 studies won't be successful; structural inflation has been in services; assuming 301 go through, minimal tariff revenue drop
US President Trump says Iran has informed the US that there are no tolls, no insurance costs, and no other charges of any kind being sought or received by Iran on ships travelling the Strait of Hormuz
PRIMER - Today’s Fedspeak includes: Cook
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AI:
- Cannot let others bod them down with regulation on AI.
- France is distant third in AI, adter US and China.
Dollar:
- Dollar dominance is essential.
Economy:
- Expects a strong USD due to US growth.
- High GDP groth can be achieved traditional inflation.
- Can get to something with 3 in front of it this year.
- Don't know if will make progress on deficit this year.
- By end of Trump term can be sub-4% deficit/GDP ratio.
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