OPINION:
Treasury Secretary Scott Bessent said recently on “Meet the Press” that the U.S. is not at risk of a recession next year. He added that he is “very, very optimistic” about the impact of President Trump’s tariffs and trade deals and said Americans will feel relief in 2026 as Mr. Trump’s tariffs, trade deals and One Big Beautiful Bill Act set in.
This is all well and good and cause for being optimistic, but what I find bizarre is that Mr. Bessent — who is on the short list to be named the next Federal Reserve chairman — didn’t even mention that the country is set to embrace a massive 3-point interest rate reduction when Jerome Powell’s term expires in May.
This pending rate cut will have more of an economic impact than everything Mr. Bessent optimistically listed — times 10.
How the Trump administration isn’t touting this as the lead story of every economic forecast is beyond me. This unprecedented rate cut is the “affordability equivalent” of the atom bomb landing the nuclear knockout punch ending World War II.
The U.S. economy is set to explode this spring, and the Trump administration is burying the lede. It should instead establish a countdown clock to May 15 at 12 p.m., the precise time Mr. Powell’s term expires. By applying this public pressure every chance it gets, perhaps it can even get Mr. Powell to resign early in disgrace, as he is holding back the Golden Age.
Every day Mr. Powell stays in office costs the U.S. government $3 billion in extra interest payments on the national debt. That’s more than $1 trillion annually. How does this guy sleep at night?
LUANA DUNN
Medford, New York
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