Treasury Secretary Scott Bessent says there is “an incredible opportunity” for the US and China to work on what he terms a “beautiful rebalancing” of a more domestic economy for China and more manufacturing for the US.
- Bessent spoke Wednesday at an event held by the Institute of International Finance
Treasury Secretary Scott Bessent called for a course correction for the International Monetary Fund and World Bank, while saying that they serve “critical roles,” and that the Trump administration is willing to work with them.
Under the status quo, they are falling short,” Bessent said of the twin institutions, speaking at an event held by the Institute of International Finance on Wednesday. He singled out the IMF for suffering from “mission creep.” The Treasury chief said that the “international financial institutions must be singularly focused” on securing economic and financial sustainability. “I’m not talking about climate change or carbon footprints.” The Treasury chief’s keynote address comes amid a gathering in Washington of finance ministers and central bank governors from across the world for the spring meetings of the IMF and World Bank.
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