Scott Bessent: Fixing the Fed, Tariffs for National Security, Solving Affordability in 2026

In this episode of All-In, Secretary Bessent reviews the past year's fiscal and economic conditions, highlighting a slight fiscal contraction and progress in reducing the budget deficit as a percentage of GDP. The discussion covers the positive impact of tariffs, attributing their success to national security applications and addressing trade imbalances with China. Bessent defends the administration's economic policies against criticisms of inflation, attributing it to factors inherited from the previous administration and the effects of mass immigration on rent levels. The conversation also explores the role of the Federal Reserve, its impact on economic inequality through quantitative easing, and potential reforms to promote a more stable and predictable monetary policy. Bessent outlines the administration's commitment to Main Street, including tax cuts for working Americans, regulatory easing for small banks, and strategic investments in key industries to ensure national security and economic resilience. The episode concludes with a discussion of Trump accounts, aimed at increasing financial literacy and equity ownership among all Americans, merging Main Street and Wall Street for broader prosperity.