Bessent’s Goals Won’t Work Unless DOGE Does, Too: John Authers

To get John Authers’ newsletter delivered directly to your inbox, sign up here.

Today’s Points:

• Scott Bessent wants to bring down oil prices, and bond yields.
• He doesn’t want to interfere with the Fed.
• And that means that the government really needs Elon Musk’s DOGE to find a way to make big federal spending cuts.
• Expect to pay more for your latte; coffee prices have doubled in less than 12 months.
• AND: Go Philadelphia.

Bessent Safe Than Sorry

Scott Bessent has a fascinating task ahead of him. The new US Treasury secretary must shepherd a package of policies that ...