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

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 7 March 2025

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

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

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is Squawk Pod and I'm CNBC producer Cameron Costa.
0:08.6	On today's podcast, a big interview with U.S. Treasury Secretary Scott Bessent.
0:15.1	The market and the economy have just become hooked.
0:18.6	We've become addicted to this government spending and there's going to be a detox period.
0:23.6	So far, detox has been volatile for the U.S. markets.
0:28.6	The president the other night did not mention the stock market at all.
0:31.6	But in the White House, market moves may not be the end-all-be-all to success this term.
0:36.6	At least, not right now.
0:38.3	He says he's not watching the stock market very closely, are you?
0:41.3	I watch everything.
0:42.3	In an extended interview, the Treasury Secretary covers tariffs,
0:47.3	tariff pauses, a war on fentanyl flows, the U.S. dollar,
0:51.3	and the tension between the U.S. and Ukraine.
1:00.8	The sequencing was supposed to be economic deal and then, again, move the Ukrainians closer to the American people, get the confidence of the American people that their money is being
1:05.9	spent wisely, and then go and negotiate in a stronger position with Vladimir Putin.
1:11.6	Plus cryptocurrency, a strategic Bitcoin reserve in the making.
1:15.6	I am a big proponent of the U.S. taking the worldwide lead in crypto.
1:21.6	It has been a busy week, but it is finally Friday, March 7th.
1:26.6	You're ready, aren't you? Yes, sir.
1:28.3	And you're ready.
1:29.3	I'm ready.
	...

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