Anthony Scaramucci, who briefly served as White House communications director during President-elect Donald Trump‘s first term, sees promise in Trump’s proposed Cabinet but fears that Trump’s mass deportation plan could have severe economic repercussions.
What Happened: During a Friday interview, Scaramucci commended Trump’s intention to nominate Scott Bessent, a billionaire hedge-fund manager, for Treasury secretary. He characterized Bessent as an “extremely intelligent individual” who would be a “reliable figure at Treasury.”
Scaramucci also showed support for Trump’s naming Susie Wiles as White House Chief of Staff and intention to nominate Sen. Marco Rubio (R-Fla.) for Secretary of State and Rep. Mike Waltz (R-Fla.) for National Security Adviser, labeling them as “astute, practical selections.”
But during the discussion with iNews, Scaramucci expressed apprehension about Trump’s deportation plan, which could potentially expel up to 20 million individuals, including those born in the U.S. to undocumented immigrants. He is worried that the execution of such a plan could lead to catastrophic economic outcomes.
"I think Trump's barometric pressure of how well he's doing is the stock market. So, if you're telling me he's going to start to deport people and ratchet up tariffs, we're going to have a stock market crash," he said during the interview.
"The U.S. stock market is saying that Trump's going to run the country like a centrist, moderate, center-right, Republican president. That's what the U.S. stock market is saying. The U.S. stock market is not taking the rhetoric around tariffs and deportations seriously. So, some of the picks have helped me become more optimistic," he added.
Also Read: Scaramucci On Trump Win: ‘I Got It Wrong, I’m Not Going To Whine About It’
Scaramucci also conveyed his hope that Trump’s threat to enforce new tariffs on China, Mexico and Canada will not come to pass, as it could trigger a stock market collapse.
Despite his reservations, Scaramucci maintains a positive outlook on the future of Trump’s administration, primarily due to the tempering effect of his cabinet choices.
Why It Matters: The appointment of a new cabinet and the potential implementation of a mass deportation plan could have significant implications for the U.S. economy.
Scaramucci’s comments highlight the importance of these decisions and their potential impact on the country’s economic stability. His optimism about the cabinet appointments suggests confidence in their ability to guide the country effectively.
However, his concerns about the deportation plan and potential tariffs underscore the potential risks these policies pose to the economy.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
