Remarks by Secretary of the Treasury Scott Bessent before the Treasury Market Conference

Parallel Prosperity: Strengthening the Treasury Market to Build America’s Golden AgeIntroductionGood morning. It’s an honor to be here.To begin, I would like to thank the New York Fed for hosting this meeting and for inviting me to join you.It’s fitting that the Treasury Market Conference is held each year in the fall. Late fall offers us the opportunity both to look back and to look forward. And since the fall of last year, much has changed.November 2024 marked an inflection point for the nation and its fiscal future. The American people had just elected President Trump to put the country on stronger financial footing. The previous Administration had run up the highest deficit in US history outside of a recession or wartime. As a result, inflation had skyrocketed to generational highs. Families watched their hard-earned savings melt away as prices of consumer goods climbed ever higher.