Part 12/16:
Regarding employment, Bessent dismissed fears of mass unemployment due to AI, citing the massive capital influx into strategic sectors like pharma, semiconductors, and manufacturing, which will generate ample jobs. Although some jobs may be reshuffled or automated, he believes the overall labor market will remain resilient.
The Debt, Inflation, and the Dollar
The interview touched on macroeconomic indicators, including the federal budget deficit and inflation. Bessent pointed out that recent fiscal measures and deregulation are contributing to cautious optimism about economic growth, with the current deficit reportedly decreasing slightly.