What's in your wallet? Ask the new Treasury Secretary

The Indicator from Planet Money

NPR

Business

4.7 • 9.5K Ratings

🗓️ 27 November 2024

⏱️ 11 minutes

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Summary

Many were waiting longer than expected to hear Donald Trump name his nominee for Treasury Secretary, the person in charge of pursuing his economic agenda. Now, we have an answer: hedge fund manager Scott Bessent. Today on the show, what are the actual implications of what a Treasury Secretary does on you and me? And how does the Treasury Department affect regular Americans?

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Transcript

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0:00.0	NPR.
0:02.0	Donald Trump takes office on January 20th, but that hasn't stopped him from making waves in the market.
0:19.0	On Monday, Trump announced one of his first executive orders
0:22.3	would be to charge a 25% tariff on all goods coming in from Mexico and Canada, as well as an
0:29.4	extra 10% for goods from China. We were wondering what the Treasury Secretary nominee Scott Besant
0:35.4	thinks at that. Here at the indicator, we watch watch this nomination closely because who is selected as the Treasury
0:41.4	Secretary is a big deal.
0:43.8	That will be clear to anyone who's watched or even hummed along with Hamilton, maybe
0:48.0	the most famous musical about a Treasury Secretary ever.
0:51.7	Yes, Alexander Hamilton was the very first Treasury Secretary.
0:55.5	But aside from historical hip-hop musicals, what are the actual implications of this job for
1:01.5	you and me? How does the Treasury affect regular Americans?
1:06.5	This is the indicator from Planet Money. I'm Darian Woods.
1:09.7	And I'm Waylon Wong.
1:16.8	Today on the show, how the new face of American economic management might affect your wallet.
1:24.9	This message comes from Wise, the app for doing things in other currencies.
1:28.4	Send, spend, or receive money internationally and always get the real-time mid-market exchange rate with no hidden fees. Download the Wise app today or visit wise.com,
1:34.9	tease, and sees apply. Support for this podcast and the following message come from Dignity Memorial.
1:40.9	When your celebration of life is prepaid today, your family is protected tomorrow.
1:46.5	Planning ahead is truly one of the best gifts you can give your family.
1:50.3	For additional information, visit DignityMemorial.com.
1:55.0	Support for NPR and the following message come from Carnegie Corporation of New York,
	...

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