News

Business

On HALO

1 week ago

LARRY KUDLOW: Reaganesque and Trumpian optimism

People may forget that Scott Bessent is probably the strongest wartime Treasury secretary going all the way back, at least to World War II. Through his Economic Fury campaign, he has slowly but surely turned off Iran’s monetary and economic spigots.Not only the blockade of Iranian ports, which has stopped their oil sales and revenues, but also his putting an end to their shadow banking system through aggressive use and modernization of the Treasury’s Office of Foreign Assets Control, or OFAC, he has closed down their offshore bank accounts not only by freezing the accounts, but increasingly by...