US Treasury Secretary: Trump and Soros Both Lack Patience When Engaging in High-Risk Trades

According to a report by Jinse Finance, U.S. Treasury Secretary Bessent delivered a speech at the Allen & Co. annual conference, often referred to as the "Billionaire Summer Camp." The host asked Bessent to compare his current "boss" with his former boss. Bessent said that U.S. President Trump and his former boss, financial magnate Soros, share a common personality trait: both lack patience when engaging in high-risk trades. According to attendees, Bessent remarked that Trump and Soros are quite similar in terms of personality, expectations, and impatience. When drafting tariff announcements, he advised Trump to be patient. Sources said Bessent believes Trump has a unique ability to identify problems and find solutions, but sometimes lacks patience in execution. In response to audience questions, Bessent downplayed the impact of tariffs on inflation and predicted there would be two interest rate cuts this year, adding that long-term borrowing costs may remain consistent with pre-pandemic levels. (Jin10)