Why Scott Bessent could be Trump’s James Baker

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Financial Times 11h ago

Why Scott Bessent could be Trump’s James Baker - Financial Times

Quick Summary:

Without it, there would be a real risk of a destabilising surge in the dollar leading to runaway fiscal policy and debt monetisation and eventually culminating in a currency crisis.

This would stabilise the dollar and promote a rebalancing of the world economy conducive to better allocation of global investments and savings.

A stronger dollar would not only infuriate Trump; it would also destabilise the global economy, particularly the developing world.