U.S. Treasury Secretary Besant Claims a New Industrial Supercycle is Unfolding

U.S. Treasury Secretary Besant stated during a House hearing that a new industrial supercycle is unfolding. He mentioned that real wage growth is outpacing inflation and that job positions are increasing. Besant pointed out that the current focus is on ending the Iranian threat rather than managing it, and he referenced forward-looking statements from the UAE regarding Iran. Recently, U.S. Treasury officials visited the UAE and had productive discussions. When discussing the 10-year U.S. Treasury yield, he indicated that rising oil prices are the main reason.

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