They have a problem with expenditure, not revenue, according to what he said today (16.1). 25) Scott Bessend, his chosen for Finance Minister, during his statements before a Senate committee. He said that the US under Trump must secure supply chains, carefully implement sanctions and protect the dollar situation. CORVERSE Expansion of tax reliefs is the “only most important economic issue of the day”, Bessend says. He also said exchange rate movements, changing consumer preferences and cheaper prices from China would mitigate the impact of tariffs. “If I am confirmed and if President Trump asks… I will be 100% ready to impose sanctions especially on large oil companies at levels that would bring the Russian Federation to the table,” said the upcoming US Finance Minister. CORVERSE Bessend stated that social security benefits would not be affected. However, it is one of the main levers of the US deficit alongside health care programs. This is due to a rapid increase in the number of Americans over 65 years old. Without renewal, Social Security is predicted to run out of enough money to pay full benefits in 2033. Bessend said he believes inflation will be “much closer” to the Federal Reserve’s 2% target according to Trump’s policies. However, several economists have revised their inflation forecasts higher than Trump’s electoral victory due to his expected policies on taxes, tariffs and immigration.
US: Harder Sanctions on Russian Oil Proposed by Upcoming Finance Minister
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