In the wake of Donald Trump's highly controversial decision to put in place a wall of international tariffs that has roiled the business world, the president's Treasury Secretary Scott Bessent is reportedly looking to move on from his current job slightly more than two months after being sworn in.
That is according to MSNBC host and former Wall Street executive Stephanie Ruhle, who appeared on "Morning Joe" on Friday.
Speaking with co-host Jonathan Lemire, Ruhle first pointed out that she has been unable to find people who support Trump's decision to begin a trade war that is causing worldwide economic chaos.
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"I have reached out to so many people in the Trump universe, business people who have supported Trump, who have supported President Trump and, Jonathan, I cannot find one single investor with one single argument that makes sense for these tariffs. All I'm getting is, well, this is what the president thinks. This is what he's always wanted to do."
Turning to Bessent, a billionaire who she said has had trouble defending the tariffs and seems at a loss to explain to reporters how things will pan out, Ruhle pointed out that he is not close to the president and remains an outsider in the administration.
"My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he's not even close to Scott Bessent or listening to him," she told host Joe Scarborough. "Some have said to me, he's looking for an exit door to try to get himself to the Fed, because in the last few days he's really hurting his own credibility and history in the markets."
"Those have said this man actually understands how the markets work and, what's happening right now, is only going to hurt markets," she added. "And even for Scott Bessent to say a few weeks ago, you know, getting cheap goods fast is 'not part of the American dream.' No, it's not part of the American dream, but it's part of the way Americans live, especially people who are economically vulnerable. They don't have the option to say, 'No, I'd like higher things that cost more.' They need low cost things because they don't make that much money."
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