U.S. Treasury Secretary Scott Bessent Issues Alarming Statement on Dangerous and Unsustainable Debt Trend
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Now, let's talk about the US Treasury Secretary, Scott Bessent. Recently, he warned that the US's fiscal path is "scary" and unsustainable. During a House committee hearing, Bessent explained that continued debt could lead to a sudden stop in the economy as markets lose confidence. However, he assured that he's committed to preventing this from happening and is working to reduce the debt while growing the GDP.
Intriguingly, Bessent confirmed that he's not in favor of the Federal Reserve introducing a central bank digital currency (CBDC). Instead, he believes digital assets belong in the private sector, and introducing a CBDC could be seen as a sign of weakness. Bessent also endorsed crypto-related bills aimed at fostering U.S. leadership in digital asset innovation.
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- The Daily Hodl offers coverage on the latest cryptocurrency news, including Bitcoin, Ethereum, and altcoins.
- Scott Bessent, the US Treasury Secretary, recently expressed concerns about the unsustainable fiscal path of the US and the potential for market loss of confidence.
- Bessent also revealed his opposition to the Federal Reserve introducing a central bank digital currency (CBDC), suggesting it could be seen as a sign of weakness.
- The Daily Hodl delves into various topics like trading, NFTs, blockchain, regulators, and financeflux.
- Altcoins such as DogeOS and decentralized exchanges are being closely monitored for potential price surges.
- In addition to news, the Daily Hodl features submissions, guest posts, and sponsored content for various sectors like crypto markets, HODLX, and Industry Announcements.
