The Treasury has submitted a proposal for a U.S. sovereign wealth fund for White House review, aimed at securing America's national and economic future.
However, the White House has raised concerns about some elements of the proposal, which was developed by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
The establishment of this fund could significantly impact global wealth management, as sovereign funds currently manage $13.7 trillion worldwide.
This proposal reflects a strategic move to leverage economic opportunities for sustainable financial growth for future generations.
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