In a recent conversation during Semafor's World Economy Summit, Ben Smith and Steve Bannon discussed the significance of Treasury Secretary Scott Bessent within Trump's economic team. Bannon described Bessent as a reassuring presence, capable of understanding capital markets intricately. He criticized other influential figures around Trump, arguing that Bessent's stable approach is essential for effective economic policy, especially when dealing with complex issues like tariffs and trade. The conversation coincided with recent tensions between Bessent and Elon Musk, highlighting underlying struggles for control and interest priorities in economic decision-making.
Bannon emphasized the importance of having a steady figure like Scott Bessent in the economic team, suggesting Lyutnik's approach would have led to disaster.
During the discussion, Bannon portrayed Bessent as a reliable 'safe pair of hands' for markets amidst Trump's major economic decisions and culture wars.
Bannon criticized others around Trump, arguing for the need to prioritize the nationâs interests over personal ones in high-stakes economic discussions.
On the current economic landscape, Bannon stated that Bessent's understanding of capital markets allows him to effectively communicate vital information to the market.
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