Treasury Secretary Scott Bessent\u2019s record as a powerful pacifier of unruly markets is now being put to the test in Argentina, where investors are questioning the value of his pledge of support last week for President Javier Milei.<\/p>\n
Barely a week after Argentine assets surged on a vow from Bessent to provide<\/a> \u201call options for stabilization,\u201d traders Tuesday drove the Argentine peso down over 6% against the dollar \u2014 forcing Milei\u2019s government to intervene and stem the plunge<\/a>, only for it to fall again Wednesday and prompt further dollar sales<\/a> by officials. The capacity of Buenos Aires to keep up such efforts on its own is limited by its lean foreign exchange reserves, putting a spotlight on what Washington is prepared to do.<\/p>\n","protected":false},"excerpt":{"rendered":"Treasury Secretary Scott Bessent\u2019s record as a powerful pacifier of unruly markets is now being put to the…\n","protected":false},"author":2,"featured_media":49992,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[9877,19866,114,1580,184,1576,27585,38626,85,46,23536,190,238,2460,16212,730],"class_list":["post-49991","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-argentina","tag-buenos-aires","tag-business","tag-donald-john-trump","tag-economy","tag-emerging-markets","tag-farming","tag-hans-humes","tag-il","tag-israel","tag-javier-milei","tag-markets","tag-politics","tag-social-media","tag-us-dollar-spot","tag-washington"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/49991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=49991"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/49991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/49992"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=49991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=49991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=49991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}