U.S. Treasury Secretary Scott Bessent Monday addressed a gathering of global investors and financial leaders at the Milken Institute Global Conference, outlining the Trump administration’s economic agenda and inviting them to participate in what he described as a coming “Golden Age” for the American economy.
Drawing a parallel between President Trump and Milken Institute namesake Michael Milken, Bessent characterized both as visionaries who defied establishment consensus. He lauded Milken’s pioneering work in high-yield bonds and asserted that President Trump similarly proved his critics wrong in his first term and is doing so again.
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“On President Trump’s first day in office, he vowed to usher in a new Golden Age for our country. A Golden Age America deserves a Golden Age economy,” Bessent stated, explaining that the administration has spent the first 100 days “preparing the soil” by reducing government waste and regulations and implementing new tax legislation. “Next, we harvest. And we want you to harvest with us.”
Secretary Bessent highlighted the United States’ position as the “Schelling point of global finance,” citing the dollar’s reserve currency status, deep capital markets, and strong property rights as reasons for its appeal to international investors. The administration’s goal, he said, is to enhance this appeal further.
The core components of President Trump’s economic plan – trade policy, tax cuts, and deregulation – were presented not as isolated measures but as “interlocking parts of an engine designed to drive long-term investment in the American economy.”
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Regarding trade, Bessent stated that tariffs are strategically employed to encourage companies to invest, hire, and build within the United States. He argued that a “level playing field” would allow American industry to outcompete rivals.
Tax legislation, which Bessent referred to as “ONE BIG BEAUTIFUL BILL,” is designed to benefit both Main Street and investors. Key provisions include making the small business deduction permanent, providing tax credits for research and innovation, and restoring and expanding 100% expensing for equipment and new factory construction with the objective of accelerating investment in American industry.
Deregulation, particularly expansive permitting reform, is another critical element. Bessent quoted President Trump as wanting to “Build, baby, build!” and highlighted executive orders aimed at significantly reducing the federal approval time for new energy and construction projects to mere months. This, he argued, will unleash creative potential and empower businesses to deploy capital efficiently.
The Treasury Secretary also linked this building renaissance to the administration’s “energy dominance agenda,” emphasizing an all-of-the-above approach to drive down the cost of doing business as energy is the “base layer of all economic activity.”
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Bessent presented the “America First Vision” as a blueprint for “More” – more jobs, homes, growth, factories, manufacturing plants, semiconductors, energy, opportunity, defense, economic security, and innovation. He claimed that in the first 100 days, companies have pledged trillions in investment in the U.S. economy, surpassing the total secured during the previous administration’s four years. He also pointed to a high level of new business applications in March as evidence that entrepreneurs are embracing this vision.
Concluding his remarks, Secretary Bessent echoed the famous mantra, “Never bet against America,” attributed to Warren Buffett. He described the U.S. economy as “unstoppable” and “antifragile,” consistently recovering stronger from challenges throughout its history.
“On a long-term horizon, it’s never a bad time to invest in America—but especially now,” Bessent urged the audience, portraying the current period as the beginning of a new Golden Age of economic prosperity for both Main Street and Wall Street. He concluded with an invitation: “Come with us—so we can build a more abundant America together.”
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