Treasury Sec. Scott Bessent: Let’s Examine the Entire Fed 7/21/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 21 July 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Less than two weeks out from the August 1 tariff deadline, Treasury Secretary Scott Bessent discusses progress on trade deals with the EU, Japan, and Indonesia. Sec. Bessent also comments on monetary policy, including reports that he tried to talk President Trump out of firing Fed Chair Jerome Powell. He calls for an examination of the entire Federal Reserve institution. Robert Frank reports on the latest in the private jet business: an investment group led by LVMH’s private equity arm is buying 20% of Flexjet. Plus, Scottie Scheffler won his first British Open title, and Andrew Ross Sorkin and Joe Kernen recreate a meme-able moment on a kiss cam. Scott Bessent - 13:06 Robert Frank - 33:36 In this episode: Scott Bessent, @SecScottBessent Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:03.0	This is Squawk Pod, and I'm CNBC producer Cameron Costa.
0:08.0	On today's episode, we're talking trade in an extended conversation with Treasury Secretary Scott Besant.
0:16.0	Talks are moving along, but the important thing here is the quality of the deal, not the timing of the
0:21.5	deals.
0:22.5	And how he views the Federal Reserve for the Treasury Secretary the bank's monetary policy
0:28.3	isn't a difference of philosophy.
0:30.4	He's calling it a mistake.
0:32.2	If this were the FAA and we were having this many mistakes, we would go back and look at why has this happened.
0:40.3	And Robert Frank on the luxury brand private equity arm that's taking a stake in private jets.
0:46.3	LVMH and FlexJet find a match.
0:49.3	Louis Vuitton, of course, has its roots in travel.
0:51.3	That'd be cool like Louis Vuitton plane. Right. Plus the roots in travel. That'd be cool, like a Louis Vuitton plane. Right.
0:55.0	Plus the rest of today's news, tariff politics, what not to do when you're caught on a Jumbotron Kiss Cam, and a dominant performance at Golf's Open Championship.
1:06.0	Royal Port Rush is there a more beautiful, breathtaking venue?
1:09.0	I like Pebble Beach.
1:15.5	It's Monday, July 21st, and Squawk Pie begins right now.
1:18.8	Stand Becky by in three, two, one.
1:19.5	Cure, please.
1:22.2	Good morning.
1:24.8	Welcome to Squackbox right here on CNBC.
1:27.3	We're live from the NASDAQ market site in Times Square. I'm Becky Quick. They caught us. Along with Joe Karnan and Andrew Ross Sorkid. You in fact do listen to Coldplay. I do. I do not. And I like Coldplay. I like Chris Barton. I'm cool with it. This was Joe's idea. It was. Shocked that Andrew wanted to go along with it and then he couldn't make him stop. Well, you
	...

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