Trump Gets Treasury Right

And The First Installment of "Fevered Dreams"

45/47 selected Scott Bessent for Treasury Secretary. He will have no problem getting confirmed. Bessent is a master of the universe-level investor with experience operating in various global markets. As a communicator, he is thoughtful, polite and savvy. Moreover and importantly, he promises to be a facilitator of the GSEs’ recapitalization and conservatorship release. Part of the solution, not part of the problem. There are many steps that need to be taken on the path to GSE conservatorship release post Trump reelection, and selecting Bessent as Treasury Secretary was an important and successful early step.

I discuss this at greater length below.

But first, an installment of a new periodic feature of my newsletter: “Fevered Dreams”.