For Republicans, Wall Street, and Bitcoin, Christmas came on November 5. “ The election was settled a fortnight ago, while visions of sugar plums dance in our heads .” The assumption that President Trump’s policies will only have a positive impact on economic growth is naïve.
Over the weekend President Trump nominated Scott Bessent for Treasury Secretary which pleased the financial markets. Concerns about the annual budget deficit in 2024 (-6.4%) and the total amount of debt ($36 trillion) have increased and have contributed to the recent increase in Treasury yields. Bessent has...
