🇺🇸 The American Secretary of the Treasury, Becerra, delivered a speech at the annual Allen & Co. meeting, known as the "billionaire summer camp." The host asked Becerra to compare his current "boss" with his predecessor. Becerra stated that the American president Trump shares a common character trait with his former boss, the finance mogul Soros: they both lack patience when it comes to high-stakes transactions. According to attendees, Becerra mentioned that Trump and Soros are very similar in terms of personality, demands, and impatience. Regarding the announcement of tariffs, he advised Trump to exercise patience. Sources stated that Becerra believes Trump has a unique ability to identify problems and find solutions, but he sometimes lacks patience in execution. In response to audience questions, Becerra downplayed the impact of tariffs on inflation and forecasted two rate cuts this year, adding that the cost of long-term borrowing could remain in line with pre-pandemic levels.
