Bessent Says Trump Paused Sovereign Wealth Fund to Focus on Debt
By and Daniel Flatley
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US Treasury Secretary Scott Bessent said the Trump administration paused plans to create a sovereign wealth fund as the president prioritizes paying down the national debt.
'I think the president has decided it's on pause while we work on everything else that we're doing now,' Bessent said Friday in an interview on Bloomberg Television's Wall Street Week with David Westin. 'He said the other day that we'll probably spend more time paying down debt. He is laser focused on paying down debt.'
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