Treasury Secretary Bessent Touts Economic Optimism, Unleashes Scathing Attack on California Governor Newsom

Treasury Secretary Scott Bessent made headlines this week at the World Economic Forum in Davos, Switzerland. On January 21, he spoke with CNBC host Joe Kernen about key issues, including President Donald Trumps interest in acquiring Greenland. Bessent described the idea as strategic, noting its potential for national security and resources. He also assessed the United States economy as strong, with solid growth prospects ahead. During the interview on the Squawk Pod podcast from iHeart, Bessent discussed the search for the next Federal Reserve chair and the administrations plan to cap credit card interest rates at around 10 percent to ease consumer burdens.

Bessent did not hold back on domestic critics. Fox News reports that on January 20, he sharply mocked California Governor Gavin Newsom, calling him economically illiterate and self-absorbed. Bessent highlighted Californias outward migration, massive budget deficit, largest homeless population in the nation, and recent wildfires in the Palisades that destroyed homes. He accused Newsom of skipping a policy speech to hobnob with global elites while his states residents suffer. In a pointed jab, Bessent compared Newsom to Patrick Bateman from American Psycho mixed with Sparkle Beach Ken from Barbie, adding that Newsom knows less about economics than Kamala Harris. He referenced Newsoms French Laundry dinners during lockdowns as hypocritical.

Newsom fired back on social media, urging allies to grow a spine against Trump and calling him a T rex that devours the weak. Bessent promised the administration would tackle waste, fraud, and abuse in California.

These exchanges underscore Bessents aggressive style as Treasury Secretary, blending economic optimism with partisan critiques.

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