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Joining me now is Treasury Secretary Scott Besant. Mr. Secretary, great to see you tonight. There are a lot of Republicans who are thrilled about the extension of the tax cuts but have some reservations about spending. You've seen them. Your message to them tonight. Laura, good to be with you. And look, this is the signature piece of President Trump's domestic agenda. This is more than a tax bill because it also includes border. It includes defense. It includes school choice. We are going to start paying down debt. We're going to grow the economy. And they were big contributors to this. So I believe that at the end of the day, they will be there for President Trump and give Speaker Johnson the ability to move this bill to the president's desk for signing this Friday. Your favorite topic, Elon Musk, I mean, he's just he is beyond furious about this legislation, said it's basically a betrayal of what he thought the administration stood for, focused a lot on spending, you know, deficits and so forth. And he said he's going to fund the primarying of anyone who voted for this, who claimed to be a Republican who believed in fiscal restraint. Your reaction to what Musk has been posting for the last few days about this? Well, as I said earlier this morning, I think if Elon sticks to rockets, I'll stick to finance. And I am confident that this bill is going to pay down the debt. And there were 50 senators who weren't threatened by his words. And Vice President Pence stepped in. They broke the tie in the Senate. And now we're moving into the House. And President Trump has shown incredible leadership on this. And in conjunction with Leader Thune, Speaker Johnson, I think that they're going to hold the majorities together and push this forward. So you're not worried about Musk's threat to primary people with all the money he has? I think that everyone is with President Trump and that it's his leadership that's going to move this forward more than anybody's checkbook. And Mr. Secretary, the Fed chair made a very interesting and frankly stunning admission today. Watch this. Would the Fed have cut more by now if it weren't for the tariffs? I think that's right. We're in effect. In effect, we went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs. So we didn't overreact. In fact, we didn't react at all. We're simply taking some time. As long as the U.S. economy is in solid shape, we think the prudent thing to do is to wait and learn more and see what those effects might be. And again, they haven't really shown up. For now, we're waiting. Mr. Secretary, Powell hates the tariffs. That's clear. And he said it's just it's the best approach. Just be prudent and patient. Your reaction tonight? Well, Laura, I can tell you that the the overall Fed board has had two reactions to the tariffs. And it's a little bewildering to me why this wouldn't have pushed them more towards a cut or has put them on hold because the Fed publishes something called the Summary of Economic Projections. They raise their inflation forecast. And my hunch is that's going to be wrong. But they lowered their growth forecast. So if you're lowering growth forecast, then why wouldn't you proceed? We saw I'm just basing Fed behavior on past behavior. And we got a 50 basis point cut last September and inflation was higher and core inflation was much higher. So I don't know. I guess this tariff derangement syndrome happens even over at the Fed. A different type of TDS. And the president was asked about the Fed share and his future. This is what he said. Did you intend to announce your pick for successor to Jake Powell earlier than then, say, or as early as, say, the summer or fall? Will I do something about who it's going to be? Yes. Anybody would be better than J. Powell. No, he's causing us a fortune because he keeps the rate way up. I think it's Trump derangement syndrome, but you know. Well, he said it's Trump derangement syndrome. But it seems like the the old financial establishment, Mr. Secretary, they all pretty much despise tariffs. But they're there. They have to admit that the tariffs have not stoked inflation. I mean, the prominent economists have noted that and they've noted that Trump kind of has gotten one over. That's what they said on everybody. But it's just common sense. So, again, is this a political move or is this truly based in solid and sound economics that we see from the Fed share? Well, let's just look at what the market's saying. The market had the fastest recovery from a 15 percent decline in history. The after the bottom shortly after Liberation Day, there was a complete panic by use by, as you said, the financial establishment. Anyone who sold then got left out. We had this tremendous rally. S&P Dow are doing Nasdaq are doing well on the year and the bond market, which everyone says should panic over inflation or the tariffs that the 10 year bond had the best return that it's had in five years. So bond markets doing well, stock markets doing well. I will take the market based indicators over the so-called experts all the time. That's how I made my 35 year career was listening to the market. Do you think Powell will lower rates by the fall as it looks like Goldman Sachs is even beginning to recommend from their latest recommendations? Look, I think if the criteria is that. Tariffs were not inflationary if they're going to follow that criteria. I think that they could do it sooner than then, but certainly by September. But again, I don't agree with their criteria. But if you're following that criteria, sure. Why not the fall? All right, Mr. Secretary, have a wonderful Independence Day. Thank you very much. Beyond furious, the CEO was beyond furious after the leak went public. And so forth. He's worried about inflation, interest rates, and so forth. In conjunction with the tax reform was crafted in conjunction with business leaders. Prudent. It's not prudent to cut rates when inflation is rising. Bewildering. It's bewildering how they came to that conclusion. Stoke. The politician's speech only stoked more division. Prominent. Several prominent conservatives backed the plan. Get one over on someone. Looks like Trump got one over again. Solid and sound. We need a solid and sound plan to reduce the deficit. If you enjoy this content, please consider subscribing to my channel to stay up to date with future videos. Thank you for watching.