President-elect Donald Trump’s nomination of Scott Bessent as Treasury Secretary has created cautious optimism in the markets, balancing fiscal discipline with concerns over economic growth.
Bessent’s firm approach towards a budget deficit of 3% by 2028 presents a reassurance to investors amid fears of inflation and public debt, despite looming growth challenges.
The Thanksgiving holiday compresses the release timetable for vital economic data this week, increasing market sensitivity to unexpected results in reports such as the PCE and jobless claims.
While Bessent's nomination offers promise of fiscal responsibility, his advocacy for tariffs raises potential worries about heightened global economic pressures and the stability of growth dynamics.
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