JOE KERNEN, CNBC ‘SQUAWK BOX’ HOST: The, I guess maybe this is one of the most important. Fourth principle that you outlined is financial leadership in terms of currency, I think in terms of the dollar and I don’t, people haven’t seen perhaps the rebound in the dollar in recent months is kind of, has gone unnoticed because the demise was greatly exaggerated. I think we have a chart where we can, we can look at that. It might not be for all the right reasons, higher interest rates, etc. But dollar dominance is essential.
TREASURY SECRETARY SCOTT BESSENT: Well, dollar dominance is essential. And everything President Trump is doing here, if you look, the new Venezuela is going to, is invoicing in dollars that are coming back onto the dollar system. They’ve been sanctioned. They were not allowed to translate or to transact in dollars. And now, dollar, the dollar is going to be the centerpiece of their trade. They were selling discounted oil to China and not getting dollars. We’re seeing in the Iranian negotiations, the Iranians will be invoicing in dollars. So everything we are doing is pushing the dollar, the, back. It’s never left as the centerpiece for the global currency system, but we’re reinforcing it. You know, I would anticipate when the Russia-Ukraine conflict ends, that Russia will want to come back in the dollar system because again, the dollar, it’s our liquidity, it’s our capital markets. It’s the depth and breadth. Everyone wants to be here. And I think many times the great, great thing about the United States is we course-correct when we go too far one way or the other. And I think we should not be the shy about flexing where we have advantages and where we have advantages, share with our allies and push back the, on those who are not aligned with us.
