According to ChainCatcher and Jin Shi data, U.S. Treasury Secretary Besent delivered a speech at the Allen & Co. annual meeting, known as the "Billionaire Summer Camp". The host asked Besent to compare his current "boss" and former boss. Besent said that U.S. President Trump shares a common personality trait with his former boss, financial tycoon Soros: they both lack patience when engaging in high-risk transactions.
According to attendees, Besent said that Trump and Soros are similar in personality, demands, and impatience. He advised Trump to be patient when issuing tariff announcements. Informed sources said that Besent believes Trump has a unique ability to identify problems and find solutions, but sometimes lacks patience in implementation.
When answering audience questions, Besent downplayed the impact of tariffs on inflation and predicted two interest rate cuts this year, adding that long-term borrowing costs might remain consistent with pre-pandemic levels.
