Treasury Secretary Scott Bessent recently took himself out of the running to take over as Chair of the Federal Reserve at the end of Jerome Powell’s term. (Or when Trump fires him illegally.) Perhaps it has something to do with his serious flub recently when he said the quiet part out loud about privatizing Social Security. Either way, Trump is on a mission to cut the Federal Funds rate to as low as one percent. In today’s episode, we game it out to explain what would happen if rates suddenly dropped so low in this economic environment. (Spoiler: It would be catastrophic for the average American.) Then we reveal what Trump’s actual motives might be for doing so.

Chapters

Intro: 00:00:40

Post Show Musings: 00:14:59

Resources

The New York Times: Trump says Treasury’s Bessent rules out replacing Powell as the Fed chair.

MSNBC: Bessent walks back suggestion that Trump accounts are 'backdoor' to privatize Social Security

UNFTR Resources

Trump Accounts.

Stablecoin and the Stable Genius: Donald Trump’s Plan to be the Central Banker to the World

Video: Trump’s SHADOW CRYPTO Network is WORSE Than You Think

Project 2025.

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Trump and the Fed: Why Trump is Determined to Fire Jerome Powell.

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