bessent: sure.ministration shortened some of the duration, and we have not shortened it further, we have just kept the policy in place. and i believe over the medium-term it is going to play out as it becomes clear that everything that president trump's administration is doing will bring -- will be this inflationary. we are going to bring down energy costs. we are going to bring down regulation. what doge is doing in terms of cost-cutting. and i think once the tax cuts and jobs act is made permanent, then we can have a revenue increase, cost decrease, and as you said, as the nation's top bond salesman i've got a pretty good story. jonathan: what is the medium-term? and let's say those ambitions become reality, and you start to think about terming out the debt? sec. bessent: sure, but that is a long way off. and we are going to see what the market wants. as lisa noted this morning, and it is fun to see someone who believes that fed minutes are exciting. [laughter] the fed said that they may stop thei

bessent: they are.cessary, probably necessary to move forward with the democratic process. vonnie: you can catch the rest of that interview online at bloomberg.com and the terminal. let's check the markets as we head toward the 1:00 p.m. hour. the s&p 500 down three quarters of 1%. a bit of a selloff. some names have run up. you have crews liners like palantir lower. somebody is buying bitcoin. it is making a run for $98,000 per coin. that does it for "bl markets." this is bloomberg. . morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management you think those phone guys will ever figure out how to keep 5g home winternet from slowing downh more confidence... during peak hours? their customers have to share a wireless signal with everyone in their area. oooh. you know, it's kinda like when you bring a really big cake for your birthday, and then there's only a little, tiny sliver left for the birthday girl. aw. well, wish her a happy bi

so from hamilton to bessent.s is a big thing. >> big -- i'm the first treasury secretary from south carolina. >> bret: there is other history. you are also the highest ranking gay member of the cabinet. history there? >> well, i think i'm actually the highest ranking openly gay official in u.s. history. >> bret: that's true. >> u.s. history. what's important to me is it coincident not causal. president trump picked me because he believed i was the best person for the job not because people with green eyes are better treasury secretaries. not because of sexual preference. so, it's a different way of looking at the world. >> bret: basically, it's what have you been talking about. merit-based as we were talking about the history. it's a merit-based thing. >> yeah. look. president trump, i think, is a symbol of one of the greatest maybe the greatest cabinet of all time. and we are here to help him push through his agenda and central to his agenda is the economy and national security and a lot of that goes on in this

we bring you our conversation with scott bessent. will undecided voters in germany did the lead of frederick mertz? we will have analysis throughout the show. let's check in on these markets. asia in focus with a tech rally continuing. the earnings coming through from that e-commerce giant with a focus on the platform but also cloud leading into ai, saying the key priority for alibaba is agi, artificial general intelligence that stock is booming in the session and lifting the broader sentiment across the regional index. , now up .6%, set for six straight weekly gains. currently that stock and index up 4.8% and had crossed higher by 5%. the rally continues. european markets fell around .2% yesterday. there has been profit-taking across the u.s. space. we look for fresh catalysts. pmi data out of the euro zone will be coming through. european stoxx 50 futures pointing lower. ftse 100 futures pointing lower by six points. s&p futures after modest losses yesterday following around .4%, pointing lower by another .1%. nasdaq futures droppi

scott bessent. secretary scott bessent, like that sound secretary bessent. >> thank you, larry. larry: we appreciate it. you thought about this flap that is developing i hear about 5 year or edward lawrence reports 5 year extension. not a 10 year? or other flotsam and jetsam to interfere with trump tax cut. >> president trump has a mandate he came in to do big things could one big thing, is make 2017 tax cuts and job act permanent, that will be a continued to make u.s. the number one economy in the world, in terms of growth we'll bring down inflation, we'll cut regulations, and we'll get the tax cut the goal is for them to be made permanent. as you just said we'll use current policy scoring. >> great. >> the scoring that up until a year ago i was a ci civilian, i have been looking at cbo numbers for 35 years, i never understood the way that scoring worked it is at this . -- tilted toward spending that is why the spends has gotten out of control in washington. larry: you want to lower spending, and lower the tax rates? and what law said you can't do both? is there a biblical cham

bessent: he wants lower rates. he's not calling for the fed to lower rates. he and i are focused on the 10 year treasury. what is the yield of that? jon: ed mills joins us next on the program. live from new york city, good morning. ♪ jon: bond yields a little higher by two basis points on the 10-year, 4.4 four. jobless claims later this morning, the estimate in our survey 2.13. the number drops at a: 30 eastern. trump is focused on bond yields and not the fed. sec. bessent: he wants lower rates. he isn't calling on the fed to lower rates if we get the tax bill done, if we can energy down. then rates will take care of themselves and the dollar will take care of itself. he and i are focused on the 10-year treasury. what is the yield of that? i believe the bond market is recognizing, as you and i talked about, energy prices will be lower and we can have noninflationary growth. jon: treasury secretary scott bessent making clear that president trump will not pressure the federal reserve to lower interest rates, saying t

we're talking about scott bessent. his selection as treasury secretary we know was cheered right out of the gate. he got 15 senate democrat votes for his confirmation. not only is he a successful hedge fund manager, but he's been a keen, observer of dangerous interactions between market, monothat tear policy and human nature. in fact, in an interview from inside the house of money published in 2006, bessent warned about the big one. he told the story of a prudent if friend who'd saved money to buy a vacation house while all of her other friends were buying immediately. they used leverage, of course, they couldn't afford these houses, and he made the statement it was unsustainable. obvious now, but in effect he had actually called the housing crash. this week he's conducted a few media interviews and has been hammering home essential points. one, president trump is not trying to pressure and doesn't want to to pressure the fed. that the white house would like to get rates lower, and one of the keys they'd like another i

scott bessent has his eye on bringing that down.xtending its longest winning streak since april benefiting from the flight to safety, and oil way down by terror of uncertainty. cable, 1.24 is where we traded currently. bank of england decision coming at 12:00 p.m. yucatan and the specter of stagflation hanging over these forecast. the boe expected to cut rates again better today with inflation above target and a struggling economy. what might the boe say about its path ahead? we are joined by janet henry, global chief economist at hsbc. a 25 basis point cut i assume is what you were expecting today. how with the market react if we had a debit surprise, say catherine mann voting for a cut or another does voting for a 50 basis point move? >> absolutely that is the risk. i do not think anyone is expecting in -- anything other than a 25 basis when cut. catherine mann, it would be interesting if it was complete consensus if she voted for a cut, because she has someone that is indicated eventually a time may come for more aggressive cuts

treasury secretary scott bessent is here to break it all down live next.e on fox business. i don't play for money. my ambition is to play big—to help and inspire others. that's why i joined sofi. they help people earn more and save more, so they can realize their ambitions. sofi. get your money right. (morgan) we're all looking for someplace to call home. but first, you need a place to look for a place to call home. and that's homes-dot-com. because it's the best. (lawyer) i told you, you cannot legally say homes-dot-com is the best! (luke) what if she says it, as morgan freeman? (marci) homes-dot—hold on, i can get this. homes-dot-com. (lawyer) no. (luke) well, how can we not say it... if that's our new name?! (lawyer) i give up. (luke) homes-dot-com-is-the- best-dot-com. [ car engine revving ] check in time is 3:00 it's 2:55. i know. is this what he's doing now? as your host, i have some rules. first, no showers longer than 5 minutes. this isn't a spa. no games. no fun. yes, coach. (♪) meanwhile, at a vrbo... when other vacation rentals make you share yo

treasury secretary scott bessent weighs in on a.i.roductivity and his relationship with elon musk and the c.e.o. of carvana joins us as the stock sinks on lower gross profit per vehicle but first we check in on the markets and they're also sinking. currently off by more than a percentage point. we're still digesting some of the points drags to to the downside. palin tear being one of them. the effects of less spending in the military means for some of these tech names. we also see amazon weighing in a points perspective and nvidia. but have a look at some of the individual names that are really key line on the higher side. and it's the chinese names that do well. once again today, alibaba absolutely soaring at one point ummore than 13%. we're up 9% on the moment on the american depository receipts. really a.i. demand, cloud, we're seeing growth of 13%. seeing ecommerce come back as they charge more fees overall. we want to dig in on it. this seems to be alibaba coming out of the doldrums. >> yes. right. exactly. so today is the big ea

secretary bessent. >> thank you, larry. good to be with you. larry: thanks for coming on, appreciate it very much. this fighting texas year or edward lawrence reporting a fighting texas year extension or not and ten year extension tension or other interfering with the trump tax cuts and lash reigns leading, president trump has a big mandate and he wants to makes the tax cuts and job act permanent. >> that perm nancy will continue to make -- perm seizure perm nae u.s. a highest economy and we're going to get the tax cut and goal for them to be made permanent. as you just said, we're going to put current policy scoring and the scoring up till a year ago and cbo up till 35 years and investment and scoring and going with spending and that's yours truly spending has gotten out of control in washington. larry: you all from the president on down, especially you, you want to lower spending and lower the tax rates. i mean, what law says you can't do both and biblical chapter going to do both. seems it's the right thing to co. >> the u.s. doesn't have a

bessent. particularly happy to hear that he's got no big plans to change the quarterly refunding issue for now. there was some concern once the new president came in that there would be higher issuance of long-term bonds. the u.s. treasury would be looking for ways to fund the expansion. particularly some of the revenue they may get from taxation or other measures. they need to issue more bonds. that doesn't appear to be the case for now. he's saying that there's no need to do anything with the long end. that's music to the ears of the bond market. they are happy to hear that. there will be plenty of issuance in the short end. we are seeing a flattening of the yield curve. that's been the major theme for the past few days, that's continuing to happen. we've seen revival in interest in the 30 year sector for example in the treasury curve. there's not so much that he can actually do. he would like 10 year yields down lower. presidents and treasury secretary's web. a lot of this is out of their h

jonathan: secretary bessent my morning.nment efficiency in action. >> i saw an estimate of about $50 billion. that's a good start. i don't think it is unreasonable to think we could have several percent of gdp we are saving. for the first time in my lifetime we will see proper accounting. as a leading bond salesman to the united states, i have a good story to tell. jonathan: treasury secretary scott bessent heading be -- tailing the success of doge on the push to lower bond yields. subadra rajappa writing, "the focus on the 10-year yield should cap the rising yields. they can reduce deficits, which they seem committed to doing through doge." good morning. is this the real deal? subadra: we will find out over time. what we heard from bessent's they have found $50 billion in deficit savings from all the work they have been been putting into it. that is far from the $2 trillion they are targeting and cutting spending from the federal government. they have a long way to go to get to that target. it will be interesting to see wh

we have had treasury secretary scott bessent presenting this agreement, but what is actually in it and what is been the ukrainian response? >> this is coming at the backdrop of years of age and military aid, from the dosimeter ration the joe biden to the name people in war effort against russia. this is also inclusive of loan forgiveness that joe biden had tried to push their when his last days in office as well. these are all things that the trump administration it is very much against, and this is where the academic partnership is very crucial here, because not only do they want to end the war to release up the extra aid in funding that is coming from u.s. taxpayers to ukraine, they also went to get in on some of the critical minerals. trump is a transactional leader asking about working to get resources to build a manufacturing growth. ukraine does add value there, especially when it comes to the likes of critical minerals, and that is the kind of partnership scott bessent is eyeing. other pieces include some kind of an investment scheme. at the reconstruction narrative showing up i

treasury secretary, scott bessent, was in ukraine, in kyiv. you know, why is your treasury secretary there? there about the order of the phone calls, was actually initiated by the americans, that with president putin, also really interesting. and this conversation that we're having now commentators have been saying to me that ukraine for them to pay. are trying to do a deal not only over the head role to play in any potential deal here. incredibly serious also. absolutely. and it's interesting. contributed about $145 billion to ukraine in financial, that was telegraphed by president trump out, caitriona, that they feel that this deal might be made secretary, pete hegseth, "will this deal be in concern of the trump administration that europeans are not spending enough on defence, that they need "look, this is not coming out of nowhere. we've had time and now and i think it's also kind of fascinating to watch what an awkward spot he's put zelensky in. they lost a lot of soldiers. but it would just seem to me, | and i'm not making an opinion on i

scott bessent weighing in our recent speculation.rie: elon musk was talking about maybe going to fort knox to make sure those gold reserves are there. that is under your purview. any plans to visit kentucky? sec. bessent: all the gold is there. jonathan: all the gold is there. gold falling slightly from all-time highs. the take from francisco blanch. "we have bullish gold for the best part of two years and first published are $3000 price target back in june of 2024." francisco, we are around $3000 right now. can we start with some of the conspiracy theories at the moment? maybe they are not conspiracy theories. your thoughts on fort knox and where this is coming from. francisco: i really don't know. it is kind of a social media frenzy. look, we have heard it from the u.s. government that the gold is there. will they want an audit? i don't know. those 8000 bars of gold have been there for a long time. the u.s. government has idly changed its policy on gold for decades. -- has not really changed its policy on gold for decades. jonathan

scott bessent says the u.s. is a long way from debt sales.ury yield stuck in limbo. >> 10-year treasury yields are stuck between a rock and a hard place. >> we have not seen bond yields come down that much. that looks mispriced. >> the economy is an extension. the 10-year treasury is still relatively stable. >> growth expectations are very high. >> what the bond market is ultimately going to be trading off of in the long end is what the growth impulse is. >> it will be a well before the crowd they want to see lower rates from the fed gets any kind of pleasure. >> we reassess and rates drift lower over the course of the year. >> you have seen yields have been in limbo, kind of pegged to 4.5%. >> i would be shooting sub 4%. loaded 3.5%. >> the conviction level is a -2. nobody has a clue what is coming next. sonali: let's look at the consumer inflation expectations. at their highest levels since 1995. what is fascinating about this move is it is driven yields on the longer end of the curve lower. you would think higher inflation would mean highe

yes, they should get spending down to scott bessent's 3% of g.o.p.it and -- gdp deficit, the laffer curve growth dividend from tax cuts, will be huge. that is what history always shows. there is another reason why the g.o.p. should make all of the trump tax cuts permanent. the president wants it. he was elected, partly on the tax cut promise. and as white house ca karkaroline leavitt said today, make 2017 tax cut permanent, no tax on tips, no tax on seniors, no tax on overtime pay -- tax cut for made in american product and eliminate special tax breaks for billionaires. even presidential priorities high won the election by a near landslide, his working class coalition blacks, browns, asian, young, w wwomen, males, that trump could rejuvenate the economy and generate unlimited access to climb the ladder of opportunity, that is what irk lurked him, republicans in the house, and senate, must not stand in pa president trump's way. that is the riff. got that out. all right. i am graced here on set to have texas congressman opinion maker and influencer mr.

i asked bessent in my exclusive this morning. >> a as the american people have a stake in the recoveryy, and we will get to the other side of this conflict u.s. the share in benefits having u.s. partnership capital and enenthennuity will act as accelerant next door to ukraine a success story poland has had second highest economic growth in the world since 1990s, after china, so why couldn't ukraine do that why should not american people share in that through their energy, and through enterprise we bring best practices in terms of privatization, in terms of modernization. >> u.s. will tap into ukraine's rare after minerals told "the wall street journal" u.s. considering sanctions on moscow to push vladimir putin into peace deal with ukraine also says u.s. troops in ukraine have not off the table bessent talked about all sanctions with me earlier on this program, today. >> it will depend on how we -- how president putin comes to the table. if we believe that taking the sanctions regime up to a maximum threshold level will help achieve negotiating leverage, and as you know, no one underst

one of the most important things scott bessent said in that interview with larry, they're not pushing for a rate cut from the fed right now. that was misreported and a lot of people saying oh, trump is demanding a rate cut. that's untrue. trump said he wasn't demanding a rate cut and besent said they're not -- bessent said they're not and focusing on the policy and not monetary and they know that inflation is the biggest faux of their administration right now. they need to conquer it and the way is to grow the supply side of the economy. david: steve, we agree if they get tax extensions with new cuts that trump wants, things are pretty rosie for the chances of gop winning the midterm elections in 2026 and opposite of that and what might happen if they let them happen and the senate as well and donald trump would have two years to do stuff and final two years would be a lame duck. >> final two years impeachment and all other kinds of junk from the past and key thing on the tax cuts, david, timing. the longer they wait in renewing those tax cuts of 2017, and longer they wait in getting

. >> secretary scott bessent defends elon musk's. doge team as, quote. highly trained professionals. the very same day a member of that team faces. >> scandal and resigns. >> plus, democrats think. >> elon musk. >> is a vulnerability. >> for trump. but is he? >> we'll get into it. >> as the 11th hour gets underway on this thursday night. >> good evening. >> once again i'm. >> stephanie ruhle. >> and. >> it. is day 18 of the second trump administration. take a breath on that one. and like the last 17 there's a lot to cover. tonight we are learning more about the uncertain future for. >> usaid. >> the agency that has been a cornerstone of american humanitarianism for more than six decades. two sources tell nbc. news the agency will be reduced from more than 5000 workers to just about 292. unions representing government workers have already filed suit against the trump administration tonight for shutting down usaid and news. >> on capitol hill. >> where the senate voted to confirm russ vought to run the office of management and budget. the vote was along pa

scott bessent here last evening on the show.s to talk about it all, north dakota senator, mr. kevin cross-claimer and ohio state bernie plano. moreno. senator crapo's idea that it's current policy and means for viewer, i don't have to go to the baseline but trump tax cuts paid for themselves and they did then and they are now and they will in the future. barack obama used the same one for the tax c cuts and that's sp fretting about it. is that true, really? >> that is true. i don't know many, if any, maybe one or two republican senators that don't agree with that. largely because mike crapo is a man of honor and understands this stuff better than the rest of us, but the explanation is clear, secretary bessent is exactly right. if we fail, it's a 4.3 trillion tax increase. cbo scores the other way. they score that as revenue and interestingly when it comes to spending, they use current policy. l they don't score the spending increase but the tax cut. >> they're off by $4 trillion last time. only that. larry: only that much. they

scott bessent was specific saying this is a revenue raiser.to industry, they have been lobbying in washington to get their policy and agenda on board because of what they import. there is a triage plan at ford according to w"wall street journal," this is on top of reciprocal tariffs, we will know if that is confirmed or not. then you have donald trump saying with other countries, you can negotiate. there is a lot happening with tariffs. >> carley: there is some wiggle room. yesterday you mentioned bret baier and scott bessent were taking about tariffs, will it increase prices and he said no because companies will eat the cost. >> cheryl: if they can. the auto industry is pretty slim margin business, it depends if they are able to do that or not. if a company is eating cost of something, they raise prices, lay off staff and try to make the same product with less staff. i don't know how different industries and companies are going to respond, these are very large, very complex industries. i focused on autos, because semiconductor we have seen a

at the same time if we're saying this is as egregious of an act, maybe bessent is not the one in there looking at the tax information. but if you open the door for that breach and you open the door for criminals to get involved, does that rise to the level of an impeachable offense for secretary bessent? this is real serious. and we're not going to stop until we find out. what, who and when they got access to this information. and -- because this rises to that level. i know chairman smith claims he believes in prosecuting people to the fullest extent of the law, well, it has to be applied to both parties. to republicans and democrats. you violate this law, you need to be held accountable. if you're an unelected billionaire or an appointed billionaire, it doesn't matter. we need to make sure that the american people have full confidence that their information is protected and it will not be abused and they will not have their money stolen from them. with that, i'm going to introduce congresswoman plaskett. ms. plaskett: thank you. thank you all for being here and to listening to, i beli

scott bessent is now saying that this is an operational efficiency review. but at the same time, you're seeing efforts by doge to turn off funding to, you know, to kind of scrub the books here. and so, you know, it's raising questions. and then that's all before one of these two officials resigned today. and, you know, a court this morning had agreed that they were going to sort of freeze the status quo here to keep these two employees in a read only mode until they could address some of the lawsuits that have been filed. >> and, justin, i'm going to get to you in one second, but can you go back to who you know a little bit more about this doge person who resigned and just the group in general? who are they? what are their credentials? because you heard beth right there say they were highly skilled professionals. >> well, this one individual. >> had worked. >> for some of elon musk's companies, 25 years old, an engineer who had gone to rutgers university. and, you know, my colleague found these social media posts from a deactivated or deleted account that we

scott bessent is coming up at the top of the hour. we will see if that interview moves the treasury market looking at the big story moving markets in the u.k., the bank of england unanimously deciding to cut interest rates 25 basis points. as you can see, the british pound weekend substantially. traders generally focus on one aspect of the policy meeting. two the officials swore a 50 basis point cut. governor andrew bailey spoke about the state of the u.k. economy. >> i will try to provide explanation. we have been using it for some time. the reason is because we think there is an underlying path of disinflation supporting us cutting rates. that disinflation is about the erosion of the persistence of inflation we had coming out of the big sharks we had a few years ago. now, we have not changed our view on that. we think we are seeing disinflation and that is why we have cut today but we have to go on watching that carefully to see if it will continue, so nothing changed. why have we introduced the word careful? there is uncertainty at

we're going to keep an eye on this scott bessent trip. bessent a very smart fella, and none o

bessent will give you the clue here. want to do is preserve united states' economic exceptionalism in the markets for as long as possible. they need a tax bill for geopolitics to keep america strong. they need a strong economic policy to believe the domestic economy and make america strong abroad. and they have to get rid of a world where death service is the biggest expenditure, which imperils all the stuff i just mentioned. you have a president interested in doing big things. this is a time for big things, not small ball. annmarie: is it a time for one big bill or two? this will be incredibly hard, one or two bills, to make sure this republican congress signs off on it, given how slim their majority is. terry: it matters some great i will not say that process does not matter at all. of was it matters some. why am suggesting is you should not be -- no one should be diverted by process as if it is the main thing. one bill, two bill, they get this thing done. you may recall, in 2017, congress fact around -- faffed around

treasury secretary scott bessent. these are the this is the team that he's decided. it's totally fine to give them complete access to the highest security systems in the whole us government, including the ones that have your social security number, your personal identifying information, your bank account information, potentially your health information. they're highly trained professionals. why wouldn't they be given everything? cnn reports tonight, quote, a 23 year old representative from elon musk's doge was granted access to the energy department's it system yesterday by energy secretary chris wright. this despite objections from people in the department of energy, which controls access to information about u.s. nuclear weapons. i don't know if you worry about nuclear weapons, i don't know i don't know if you worry about the safety of your social security number and your bank account. i mean, everybody has their own, you know, things that keep them up at night, right? do you ever worry about, like, air traffic control, our nation's new transportation secretary, wh

treasury officials associated with scott bessent have said read only lawyers yesterday in court saidread only. >> so i just want to emphasize this because wasn't the initial explanation from the administration that they wanted access just for read only, right, that the initial reason for their access, they just want to look at it, review it, read. but that's undercut right by these emails that they they didn't just want to. i mean, there. >> seems to be a very clear revelation here that there was an interest to use the treasury department's systems in place as a way to turn off payments to fall in line with the white house. that on itself is just not what we have been hearing. and the reason that, you know, democratic senators on capitol hill have been asking so many questions. it's not just about whether the white house or the treasury department can turn off payments to usaid or whichever part. it's also the fact that there's a massive amount of protected and private information in this payment system. and it's a system within the treasury department that is very closely held. very

we're going to keep an eye on this scott bessent trip. bessent a very smart fella, and none of us can hold a candle to elizabeth macdonald. liz: and you're a smart fella too. i need to put you in a diabetic coma, larry, but you're the best guy ever, and you still owe me a dinner just kidding. larry great to see you again. larry: thank you. liz: let's get going. welcome to the "evening edit." there's news coming in. i'm elizabeth macdonald. >> doge and i'm going to ask elon to tell you a little bit about it, and some of the things we found which is shocking. billions and billions of dollars of waste, fraud, and abuse. >> it's not optional for us to sit to reduce the federal expenses. it's essential. it's essential for america to remain solvent as a country and it's essential for america to have the resources necessary to provide things to its citizens and not simply be servicing vast amounts of debt. liz: we'll get you the latest on president trump and elon musk speaking out from the oval office, just moments ago. president trump just orde

maybe. ♪ >> take a look at futures the dow scott bessent did speak with fox business yesterday on thean to reshape the u.s. economy. >> we had an economy that has been supported by the government we are going to torque that back to the private sector and bridge on the government spending in the complex and good paying job so the reason under the biden administration you haven't gotten real wage growth, the government doesn't give real wage growth because they increase with the inflation level. >> joining us 42 macro founder and ceo darius dale what is your outlook for the year end are but to get your reaction to from what you heard from her treasury secretary and the interview with very couple. >> thank you for having me i've known scott for a long time a really brilliant guy that will do great things for our country the thing i will say is a process effectuating d.c. as it relates to trying to jam together tariffs, deregulation, tax cuts energy production and the rest of it it is causing a little bit of a slowdown in the economy so hopefully you get the legislative agenda on track in

that was the exact phrase from trump treasury secretary scott bessent. these are the this is the team that he's decided. it's totally fine to give them complete access to the highest security systems in the whole us government, including the ones that have your social security number, your personal identifying information, your bank account information, potentially your health information. they're highly trained professionals. why wouldn't they be given everything? cnn reports tonight, quote, a 23 year old representative from elon musk's doge was granted access to the energy department's it system yesterday by energy secretary chris wright. this despite objections from people in the department of energy, which controls access to information about u.s. nuclear weapons. i don't know if you worry about nuclear weapons, i don't know i don't know if you worry about the safety of your social security number and your bank account. i mean, everybody has their own, you know, things that keep them up at night, right? do you ever worry about, like, air traffic cont

"bessent will hold discussions about critical minerals. energy resources and the future of state owned enterprises, according to a source. the announcement came after trump started floating eddie of exchanging mineral access for continued u.s. security support on february 3. we are putting in hundreds of billions of dollars, trump said. they have great rare earth. i want security of the rare earth, and they are willing to do it. zelenskyy reacted by stating he supported the idea. "we are open to the fact that all this can be developed with fair partners who are both helping us to protect our land and pushing the enemy back with their weapons and sanctions packages. this is absolutely fair." that is what zelenskyy said on for every five." -- february 5." stanley from arkansas. caller: thank you for taking my call this morning. we do need to stop that war. the rare earth minerals, that's very important for trade and everything and for peace and everything. we need to stop this were quick. another subject. this rev. al sharpton, i don't know

all of this is homebuilders sentiment hits a five-month lot treasury secretary scott bessent says he's won't feel the pinch from terrorists. watch this. >> i think very little would be passed on to the consumer, the companies on the other side the exporters are going to eat a lot of the cost. jackie: joined me the corcoran group founder and shark take investor barbara corcoran. i want to ask you how you anticipate will disco do you agree with the treasury secretary. >> definitely not everybody will feel the increased costs in the housing market, new developers are cutting back the size of the homes to bring prices down is going to shift them up. >> the issue has been supplies. we want people to be able to build. >> also renovation people might stop renovating the hose because it'll be much higher i would not be surprised if they had a tremendous effect of ten or 205% on the housing market. that is one thing to think about mortgage rates or the other causing headaches for homebuyers, the 30 year fixed-rate hovering below the 7% mark we are weeks away from the spring home buying season b

in that video, you saw scott bessent trying to l.a.oncerns that he did not have access to non-read-only information. but what did he say about having access in the first place? does he agree with what doge is doing in washington? >> he endorsed it. he indicated he was completely aligned with elon musk when it came to this effort to find savings, to reduce the size of the federal government and make the systems more efficient. during the conversation with our colleague, we heard the treasury seretary point its antiquated systems, that hardware is decades-old and it has been repeatedly cited by the government accountability office. they need to find money to do that. one of the reasons it is difficult to simply march in and do this is that these older systems can be sensitive. even small changes carry the risk of perhaps a disruption of some sort and that is probably the last thing this administration wants to see. caroline: thank you. we will speak about bitcoin adoption broadening in 2025. this is bloomberg technology. ♪ ♪♪ only servic

scott bessent sat down exclusively with our own larry kudlow. edward lawrence joining us. what did he say about extending the tax cuts? that's very important to us. >> tax cuts should be permanent but there's a rift forming and house republicans, an impasse in the house on how to make those tax cuts permanent. right now the house speaker at the national prayer breakfast was at the white house last night for the executive order signing. he will be here in an hour with other republicans to talk about this but some house republicans like written caucus chairman andy harris say there is no path to make the tax cuts permanent. in an expose of interview with larry kudlow on fox business this is exactly what the treasury secretary said about this. listen. >> donald trump has a mandate, he came into do big things and one of the big things this administration wants to do is make the 2017 tax cuts and jobs act permanent. and that permanency will be, continue to make the us the number one economy in the world. >> no wiggle room they are, national association of manufacturers says of

morning man opened the doors of the treasury department to doge being sued treasury secretary scott bessent union groups filing lawsuit saying violating rights to prooifs giving musk access to information saying people must share information with federal government should not be forced, to share information with elon musk or his doge, and federal law says they do not have to, that is democrats, did something they rarely do work on a monday, they have press conferences rallies calling elon musk and his doge team a shadow government that is conducting a hostile takeover of our country no to give doge a chokehold on treasury statements outlandishly dangerous, he like a tiger into a petting zoo hoping for the best. >> we are living a nightmare created by donald trump and elon musk, and we need to wake up. >> doge not outsiders white house saying musk has official title special government employee department of government efficiency is part of the executive branch musk reacting to the democrats out outrage calling it hysterical, explaining why they need he access in first place only way to stop

i'm sure at some point during the time bessent was here, zelenskyy went to sleep, and i'm sure bessent did, too. but it's an extraordinary comment to make suggesting that essentially, zelenskyy himself has rejected that deal. he has said yes, i wouldn't sign it. i have to guarantee ukraine's interest. it wasn't a legal document. they haven't rejected it outright, but i'm sure they want to see better terms there. and they've said publicly they want to see security guarantees as part of that. zelenskyy said to me yesterday, look, if you don't give us boots on the ground, you won't give us more military aid necessarily to fight, then give us air defenses to defend our skies. ukraine hit constantly at the moment, and so there's growing concern here about the phrase dictator being used around zelenskyy, about how he's refusing elections. yes, ukraine has not had elections during wartime. that isn't far from abnormal in european history, when countries have indeed been attacked. and we've seen european leaders come to his aid, essentially the british suggesting that they didn't have election

treasury secretary scott bessent is here. border czar tom homan is here and newly sworn in hhs secretary r.f.k. jr. is here. it's maha time. >> bobby did great. got more votes than anybody thought. i think is he going to do phenomenally in that position. >> laura: now the senate confirming robert f. kennedy jr. as hhs secretary by 52-48 vote. that is a huge win for americans who want a healthier population. >> for 20 years i have gotten up every morning on my knees and prayed that god would put me in a position where i could end the childhood chronic disease epidemic in this country. on august 23rd of last year, god sent me president trump. he kept his word in every account and gone way beyond it. i'm so grateful to you, mr. president. >> laura: but secretary kennedy has his work cut out for him because there is a lot of wasteful spending that needs to be rooted out, for example, according to the "new york post" the hhs spent $22 billion for illegals from 2020 through 2024. this at the same time they lost last of 22,000 migra

we're seeing scott bessent and trump, they're not going to jay bone the fed any longer.point telling the fed what to do. what they will do is drive the 10 year yield lower, drill, baby, drill, issue more government treasures on the short end and extract the cost efficiencies and inefficiencies through doge. if we get the 10 year lower, jeff seek will make a lot of money on his real estate. stuart: all of what you're saying suggest the market is in pretty good shape to go higher still. >> i think the market could go up 9% from the levels and see an attractive environment for risk asset and stable labor market around 4% unemployment and again, inflation looks like it will ultimately abate and the gross domestic product showing no signs of slowing down and risk reward remains in the favor of being long equities on buying the dips. stuart: jason katz, we love to hear it. thank you very much indeed. see you real soon. got it. now this, elon musk and doge setting their sights on the largest gold reserve in ft. knox in kentucky. madison, what does doge want to do at fort knox?

what they did and what we saw last week with scott bessent, scott bessent as secretary of the treasurycoming in and he is an entirely different plan, what the plan is is to lower the yield on the ten year treasury, what that means for people is a ten year treasury is a good percentage of the borrowing cost are gauge two. as a yield declines it shows first of all confidence in the u.s. treasury market and second of all and allows banks to lend at lower rates because what scott bessent and president trump relies if they don't get rates lower there is an avalanche of refinancing real estate and that will be problematic going down the road. >> we gotta talk about gold you put your cash into gold and hit an all-time high, are you still doing it. >> i love gold and the more talk about a trade war the more revelation in jerome powell absolute failure to control inflation, the fact that the fed has failed makes gold so much more attractive to me because we will exceed the 3000 mark. >> were only $70 away. >> we will exceed it what gold reflex to me it's a protest against monetary policy is not

i am pretty sure that, you know, a lot of our cabinet people including treasury secretary bessent is,president, mike waltz, john ratcliffe, our secretary of state, marco rubio, had been meeting with various ukrainian people at the munich security conference. so i don't think this is about a excluding anybody. in fact, it's about a including everybody. maria: and final question on this, do you expect ukraine will have to to give up a significant portion of its land, and do we believe that, if so, putin will be done after this? >> you know, those are, those are details, and ooh i'm not, i'm not dismissive of the details. they're important. but i think the beginning here is trust-building. it's getting everything to understand that this war does not belong continuing, that that the it should end. that's what the president has directed us to do, to negotiate a proper ending of this war. no more death. there's been too much already. that's what he said. and that's the direction k and that's what we're going to do. maria: let me move on to israel. you've done such an incredible job in terms

, says he's now going to be secretary of treasury as well as everything else because he's telling bessent, you know, he's going to go in there and bessent told us in the finance committee when i asked the question, he said it is on for this year and people have started filing. >> have you tried getting a hold of the treasury secretary in these last few days? sen. wyden: he certainly didn't consult with us. under normal circumstances, the treasury secretary consults with the committee, and we've heard nothing from him on this. >> can i ask a question about usaid? now your former colleagues, senator, now secretary rubio said today of usaid, he said my frustrations with usaid go back to my time in congress. it's a completely unresponsive agency and it's supposed to respond to policy directives to the state department, and it refuses to do so. i know that some of you all have good relationships with him. have you tried to reach out to him today about usaid? do you remember him talking about this when he was a member? have you heard this from other republicans? >> we have been in constant -- m

bessent in. check the markets, please.ico's president and they have agreed to pause tariffs on both sides and we'll not be levying 25% on mexico. they won't be levying tariffs on us. it's paused for one month. mexico will send 10,000 troops to the border to stop the flow of strugglings into america. statement president trump spoke with canada's trudeau this morning. they will speak again at 3:00 this afternoon and there's some speculation that a deal is brewing. somehow or other get a similar pause of tariffs that you got with mexico and maybe now with canada. eddie ghabour joining me now. do you believe trump's hardball tactics are working, eddie? >> i do. the biggest thing going into today which is why we bought the selloff is we're negotiating from a position of strength and they'll go into a recession if the tariffs go into place and president trump will put the tariffs on if they don't give in so tom of the negotiations and some of the reason they're working right now is because we're in a position of strength and we