Bessent Calls Trump Accounts 'Rainy Day Funds' And Slams 'Out of Touch' Critics As JPMorgan, BofA Back Plan

Treasury Secretary Scott Bessent on Wednesday discussed how the newly introduced “Trump Accounts” could serve as “a rainy day fund” for the children when they reach adulthood. Bessent Dismisses Wealth Gap Concerns Critics have warned that Trump Accounts could widen the U.S. wealth gap, as wealthy families can contribute the full $5,000 annually while lower-income households may struggle to save. However, Bessent, in a conversation with CBS Saturday Morning co-host Kelly O’Grady, dismissed the concern, a ...