The argument of Bessent to Investors: Investing in the American “rebirth of construction” of America “
The Treasury Secretary Scott Bessent, speaking before a crowd of his peers at the Milken conference, gave no indication that the administration supported its pricing policies.
Instead, he stressed in a room full of participants, who were hung on each word, that it was time to invest in the United States, linking plans to reduce taxes and regulations.
“Trade, tax reductions and deregulation can be three separate policies. But each policy is mutually reinforced,” he told investors at the Beverly Hills conference. “And acting together, they push towards the same objective – to solidify our position as the home of the world capital.”
He mentioned a bill which “would prevent an enormous tax increase” on Main Street by making the deduction of small permanent enterprises, which is adopted around the congress. He said it would also provide tax credits and research and innovation deductions in order to stimulate investment in high -tech operations, restore 100% of equipment expenditure and expand this incentive to a new factory construction.
“The objective is to accelerate investments in American industry,” he said.
The Beverly Hilton ballroom was filled with participants before Bessent's speech. Bradley Saacks
Bessent also praised Trump's executive orders to reduce administrative formalities for new energy and construction projects.
“This will allow business leaders like you to put your capital at work as quickly and efficiently as possible,” he said. ” The renaissance of the building will be fed by the agenda of domination of the president's energy. “”
'We want everyone to look like Texas'
His speech was undoubtedly one of the most anticipated in the most anticipated conference of the conference, mainly due to the aggressive rates that disrupted equity and bond markets.
Bessent closed his prepared remarks saying that throughout history, when the American economy is overturned, it comes back stronger.
“US markets are anti -rae,” he said. “Indeed, all of our economic history can be distilled in just five words:” above and right. “On a long -term horizon, it's never a bad time to invest in America, but especially now.”
Indeed, investors and markets have warned the administration policies in recent weeks, and Bessent's comments have been another step towards obtaining the support of the investor class.
In a panel that followed the opening of Bessent, the CEO of Carlyle, Harvey Schwartz and the CEO of Franklin Templeton, Jenny Johnson, to each declared that Bessent had well articulated the order of the administration, in part because he had linked the prices to deregulation and tax reductions.
Bessent played his audience by mentioning the release of financial regulations, saying that the banks were too “limited”.
“We want everyone to look like Texas,” he said, speaking with Michael Milken on stage.
A participant, retired executive coach, said that Bessente “retrofit” tariff messaging.
The participants had claimed to enter the ballroom where the speech was organized, and at least two dozen people stood back.
An hour before Bessent was set, a line started to train to enter the ballroom and secure a seat. A person who was lining up told Business Insider that his boss asked them to nail a place for them. Another person said it was like “waiting for a rock concert”.
