US’ Bessent: Policy priority will be to deliver on Trump’s various tax-cut pledges

Dhwani Mehta FXStreet

Following his selection as the US Treasury Secretary, Scott Bessent said in his first interview with the Wall Street Journal (WSJ) that making President-elect Donal Trump’s first-term tax cuts permanent.

Additional quotes

“Eliminating taxes on tips, social security benefits and overtime pay.”

“Enacting tariffs and cutting spending will also be a focus, as will maintaining the status of the dollar as the world’s reserve currency.”

Market reaction

The US Dollar Index maintains its downside consolidative mode following these comments, losing 0.58% on the day to trade just below 107.00.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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