Important Takeaways:
- President-elect Donald Trump has tapped billionaire hedge fund manager and investor Scott Bessent to serve as Secretary of the Treasury, according to multiple reports.
- Bessent is billed as a crypto-currency enthusiast and an advocate of deregulation. He will also be a key figure in using America’s economic power to support its diplomatic priorities.
- He has advocated for his version of Japan’s “three arrows” plan as a focus for economic revitalization: 3% real growth, a deficit of 3% of GDP, and “3 million more oil barrels flowing a day from U.S. energy production.”
- Following the trend set in other announcements this week, Bessent has been a Trump loyalist since his first term despite being an Al Gore fundraiser in 2000 and one of George Soros’s inner circle.
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Really, Janet? Treasury secretary Yellen says she sees NO signs of a recession in US economy – despite two previous periods of negative growth, falling stock and housing markets and soaring inflation
- Treasury Secretary Janet Yellen said she does not believe a recession is looming despite two first-quarter declines to open 2022
- Gross domestic product (GDP) fell 1.6 percent in the first quarter before falling an additional 0.6 percent the following quarter
- Yellen: ‘Inflation is very high – it’s unacceptably high and Americans feel that every day’
- GDP rose by 2.6 percent in the third quarter – though economists say they ‘don’t expect this growth to continue this year or early next’
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