Best Trump Advisor struggled to reassure investors in negotiations after market shock

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Best Economic Advisor Donald Trump Stephen Miran has tried to assure the leading investors about the bonds at the meeting last week, followed by the extended shocked on Wall -Street caused by the presidential tariffs.

PeaceThe chairman of the Council of Economic Advisors met with representatives from the best hedge -facilities and other major investors in the Eisenhower Executive Office on Friday, stated that people who have a direct knowledge of the issue.

Some participants discovered the meeting on Friday, and two people describe the Miran’s comments tariffs And the markets as “inconspicuous” either incomplete, and one of them said that Miran “from the depths”.

“(Miran) questions arose, and that’s when it fell apart,” said one person acquainted with the meeting. “If you are with an audience that knows a lot, the conversation points are quite quickly.”

Another person acquainted with the meeting was more encouraged by the administration’s approach to deregulation and tax reducing.

Approximately 15 participants included Hedge Fund representatives Balyasny, Tudor and Citadel, as well as PGIM and BlackRock asset managers. The event convened by Citigroup was timed to the IMF spring meeting.

“Representatives of the administration support regular contacts with business leaders and industry groups regarding our trade and economic policy. The only interest that manages the administration and decision of the President Trump is the best interest of the American people,” the White House said about the meeting.

Citi, BlackRock, PGIM, BALYASNY, Citadel and TUDOR refused to comment.

Trump’s policy has caused intense volatility in the US and debt markets. US government bonds were dramatically sold after the presidential announcement on April 2 on steep “mutual” tariffs. They stabilized after he stopped at the collections for 90 days, but many investors remain on the border.

The 10-year revenue of the US Treasury on Tuesday was traded by 4.17 percent, decreasing compared to 4.59 percent on April 11. The profitability goes to the opposite price to the prices.

Finance Minister Scott Igent also addressed investors at a closed door meeting Last week. Comments of the infant showing that it expects the US and China to reach a trade transaction in a “quite the near future” have helped raise US shares.

But the participants of the meeting with Miran stated that he did little participants about the shock in the markets and supported the administration line that tariffs would damage US trading partners more than US consumers. Miran also stated that the main purpose of the tariff was not the income, although additional income could benefit.

The Council of Economic Advisors was set up after World War II to give advice on domestic and international economic policy. However, the National Economic Council is responsible for the coordination policy.

Before coming to the administration, Miran wrote about the essence of the so-called Mar-A-Lago Accord, to firmly align the world markets around us interests in trade and geopolitics.

Items of his thinking, pressed to the fact that the dominant back currency in the dollar Widely read note In November. These include the weakening of the owners of the dollar and the ties of US government bonds with the agreements on financing the cost of defense, in return for the US security guarantee.

Earlier this month, Miran made a speech at the Hadson Institute’s analytical center, which did not call for a new global pact, but said the currency markets were “distorted” and “were” unhappy side effects of reserve assets “.

Among its decisions was that countries should make tariffs for the US without revenge or simply “write checks to the treasury that help us to finance global public goods.”

Bond investors have risen both on this and the crackdown on Trump. Shipment of long -term bond prices and providing the dollar believe that the role of the United States as a market asylum is under stress, investors say.

One person familiar with the situation said Miran was increasingly moving away from ideas in the article 2024 at the latest meetings with investors.

“He is in a full-scale retreat,” said a man familiar with this question.

Additional James Politics Reporting