U.S. Treasury Secretary says IMF needs to return to its core mission of providing liquidity, backstops, and intervention when countries are in trouble.
IMF should sell golf course in Maryland.
The Trump administration can shift to other tariff authorities if the Supreme Court rules against IEEPA duties.
Anyone purchasing Russian energy is effectively subsidizing attacks on the Ukrainian people.
The U.S. Treasury purchased Argentine pesos in the open market this morning.
As long as Argentina continues enacting sound policy, they will have U.S. support.
An election victory for Milei’s party would strengthen his ability to veto bad policies.
When asked if the U.S. Treasury could buy Argentine debt, he said “we could,” but did not elaborate.
The Argentina swap line will be backed by Special Drawing Rights held in the U.S. Exchange Stabilization Fund and converted to dollars.
The U.S. is working on a $20 billion private-sector facility for Argentina that would complement the swap line and help reduce debt.
Support for Argentina is described as an economic ‘Monroe Doctrine’ for U.S. influence in Latin America.
Not concerned about systemic economic risk from Argentina.
Not advocating that the Fed shrink its balance sheet or move away from an ample reserves system.
The Fed should use quantitative easing sparingly, like antibiotics.
QE reform is an important consideration for the next Fed Chair choice.
Disagreements with South Korea over investments can be resolved within the next 10 days.
Summary:
The Treasury Secretary emphasized global and domestic financial stability themes — urging IMF reform toward its liquidity-focused roots, supporting Argentina through dollar-backed swap lines and private financing, and maintaining cautious but supportive engagement in Latin America. He downplayed systemic risks, advocated prudent Fed policy (with QE used sparingly), and hinted at resolving geopolitical and trade tensions, including with South Korea and Russia. The remarks signal a blend of measured monetary restraint, strategic regional engagement, and pragmatic diplomacy
