"Big and Beautiful" passed the House! Trump thanks party members, Treasury Secretary Bessent: clear signal for interest rate cuts.

The "Big and Beautiful" tax reduction bill promoted by Trump passed in the House of Representatives on 7/3 Eastern Time and will be officially legislated on 7/4. Trump later posted a message thanking the Republican Party for their unity, emphasizing that this will usher in a new era of prosperity for the United States. U.S. Treasury Secretary Scott Bessent was also interviewed at the same time to fully endorse the "Big and Beautiful" bill, revealing the upcoming fiscal strategy regarding concerns about the deficit, the status of the dollar, and the attitude towards interest rate cuts by The Federal Reserve (FED).

"The Great and Beautiful" narrowly passed in the House of Representatives, Trump: Everyone is happy.

"The Big and Beautiful" narrowly passed in the House of Representatives on July 3 with a vote of 218 to 214. In response to concerns from conservative and moderate factions within the Republican Party, Trump personally applied pressure, campaigning from the White House to the golf course, ultimately resulting in only two Republican members crossing the aisle.

The Senate earlier passed the "Big and Beautiful" legislation under the crucial vote of Vice President Vance (JD Vance), which will be officially signed into law by Trump on 7/4 Eastern Time. In response, Trump stated on Truth Social:

"Thank you to the Republican Party for showing unprecedented unity. We will continue to move forward and win more victories."

Why is it called the "Great and Beautiful Act"? An article to understand how Trump fulfilled his promises to voters (

How to resolve the deficit and the dollar turmoil? Rely on savings, tariffs, and a global confidence rebound.

Regarding long-standing concerns about the fiscal deficit, U.S. Treasury Secretary Yellen stated in an interview at the same time:

"The stock market has hit a new high, and the bond market's performance over the past six months is the best in five years. The market clearly likes this bill."

He pointed out that the government will significantly control spending, and also revealed that it may subsequently supplement the Treasury account )TGA( through short-term U.S. Treasury bills )T-Bills(, and forecasted that stablecoin legislation will bring at least $2 trillion in short-term U.S. Treasury bond demand.

Due to the recent weakening of the US dollar affecting its global status, Bessent denied that the dollar's position is under threat, pointing out that China's capital controls are too strict, and the renminbi cannot be freely exchanged. He also warned that if the euro-to-dollar exchange rate rises to 1.2, Europe will complain that its exports are being suppressed. He reiterated:

"The US dollar still maintains its long-term status as a global reserve currency, rather than short-term fluctuations. We are doing the right thing, so the status of the dollar will not be shaken."

Winning both blue-collar and trade negotiations, the market direction aligns with Trump's predictions.

Bessent emphasized that the Trump administration truly cares for the grassroots. He pointed out that during Trump's first term, the wage increase for non-managerial levels exceeded that of managerial levels, and the asset growth of the bottom 50% of households also outpaced that of the top 10%. As for health care and subsidy reductions, he would require able-bodied adults to work 20 hours a week, focusing on support for women and children.

Bessent also predicted that before July 9, the United States will reach a tariff agreement with hundreds of countries, emphasizing that the terms of these deals are the best seen in decades. Finally, regarding Trump's request for the Federal Reserve (FED) to cut interest rates by 3%, he responded:

"The current market direction aligns with President Trump's predictions, and his judgment on the timing of interest rate cuts during his first term was even more accurate than that of the Federal Reserve (FED)."

However, Besant himself stated that he would follow the market, and from the perspective of the interest rate curve and the two-year bond market, there are indeed clear signals of interest rate cuts.

"Big and Beautiful" is temporarily set by American companies, but the subsequent market impact still needs to be observed.

According to previous reports, JPMorgan CEO Jamie Dimon stated in an interview that he hopes "Big and Beautiful" can set the tone for small and medium-sized enterprises in the United States, as about 20% of small and medium-sized enterprises across the country are struggling due to tax cuts. Regarding the fiscal deficit issue that has drawn public attention, Dimon emphasized that the focus should be on "economic growth" rather than being led by the deficit.

Overall, although the Treasury Secretary pointed out that the "stock market has reached new highs and the bond market has achieved its best half-year performance in five years," investors should not be overly optimistic. The author further cites Dimon's previous statement that companies should prepare for the worst-case scenario, and investors need to remain vigilant and not naively believe that the U.S. economy can smoothly achieve a soft landing.

)JPMorgan Dimon: Don't be optimistic about a soft landing for the U.S. economy, please push for the "Big and Beautiful Act" as soon as possible (

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