US Treasury Secretary Scott Bessent expects strong third quarter GDP growth and backs Fed Chair Kevin Warsh

US Treasury Secretary Scott Bessent expects strong third quarter GDP growth and backs Fed Chair Kevin Warsh

US Treasury Secretary Scott Bessent expects the US economy to post strong third-quarter GDP growth and backed Fed Chair Kevin Warsh after the central bank kept rates unchanged. He also said the Fed sees signs of an accelerating economy.

Scott Bessent says neocloud debt isn't problematic at all

Scott Bessent isn't losing sleep over neocloud debt.Anna Moneymaker/Getty ImagesTreasury Secretary Scott Bessent isn't rattled by the neocloud debt debate that has spooked investors.He said AI-related debt isn't "problematic at all" and just a small part of the AI ecosystem.Neocloud stocks have slumped amid concerns over mounting debt and uncertain AI investment returns.Treasury Secretary Scott Bessent weighed in on the neocloud debt debate that…

CNBC Exclusive: Transcript: U.S. Treasury Secretary Scott Bessent Speaks with CNBC’s Brian Sullivan on “Closing Bell: Overtime” Today

Bessent Says Neocloud Debt Concerns Are Not Problematic

He called neocloud providers a small part of the AI ecosystem. CoreWeave recorded $640 million in net interest expense in the second quarter.

Treasury Secretary Bessent says AI neocloud debt is not a problem

The AI sector's resilience suggests that while neocloud debt issues may cause localized disruptions, they won't destabilize the broader economy.