Bessent on Greenland, Tariffs, and Why Jerome Powell Is in a Pickle – RedState

Treasury Secretary Scott Bessent never disappoints when he makes an appearance on Sunday. That proved true Sunday morning as he joined Kristen Welker on NBC News’ Meet the Press.

Whether it was Greenland or the Fed, Bessent was well prepared to answer the questions raised by Welker.

From the outset, Welker focused on Greenland, noting that Denmark and Greenland insist it’s not for sale, and asking, “What makes President Trump think that is the case?” Bessent highlighted its strategic value.

.@SecScottBessent: “Greenland is critical to U.S. national security…President Trump is acting strategically. He’s looking beyond this year, he’s looking beyond next year, thinking about what could happen if there’s a battle in the Arctic. We’re not going to outsource our national security.” pic.twitter.com/f50uvJHnMR

– Rapid Response 47 (@RapidResponse47) January 18, 2026

BESSENT: Kristen, if you look back over the years, over a century, American presidents have wanted to acquire Greenland. And what we can see is that Greenland is essential to the national security of the United States: we are building the golden dome, the missile system.

And look, President Trump is seeking – is strategic. He’s looking beyond this year. He’s looking beyond next year to what might happen in terms of the Arctic battle. We will not outsource our national security. We will not outsource our hemispheric security to other countries.

In Trump 1.0, President Trump told the Europeans: “Don’t build Nord Stream 2. Don’t rely on Russian oil.” »And guess what, Kristen? Guess who is funding Russia’s efforts against Ukraine? European purchases of Russian oil. So America must stay in control here.

Welker then asked Bessent if Trump was seriously considering annexing Greenland or if he was instead using the discussion as a negotiating tactic. Bessent responded by emphasizing the importance of securing peace through force.

.@SecScottBessent: “If there was an attack on Greenland from Russia, from another region, we would be drawn in – so better now. Peace through strength… The Europeans project weakness. The United States projects strength.” pic.twitter.com/KyREpkA7DP

– Rapid Response 47 (@RapidResponse47) January 18, 2026

BESSENT: President Trump firmly believes that we cannot outsource our security. Because, Kristen, let me tell you what’s going to happen, and it might not be next year or five years from now. But at the end of the day, this fight for the Arctic is real. We would retain our NATO guarantees. And if there was an attack on Greenland from Russia, from another region, we would be drawn in.

So better now, peace through strength, make it part of the United States, and there will be no conflict because the United States is currently the hottest country in the world. We are the strongest country in the world. Europeans project weakness. The strength of American projects.

Welker then addressed the role tariffs play in the debate, questioning what “national emergency” might justify their use. Bessent explained that the goal here is to prevent an emergency.

.@SecScottBessent: “The national emergency is about avoiding a national emergency… He is capable of using the economic power of the United States to avoid a hot war, so why wouldn’t we?” https://t.co/spNNJkP5w2 pic.twitter.com/McanL8FBTU

– Rapid Response 47 (@RapidResponse47) January 18, 2026

WELKER: Let me ask you, generally, about the pricing part of this. The President, as you know, justified his authority to impose past tariffs without going through Congress by declaring a state of national emergency. This is currently a question before the Supreme Court. We are all waiting for the High Court’s decision. What is the national emergency that justifies this new set of tariffs?

BESSENT: National emergency is about avoiding a national emergency. This is a strategic decision by the president. This is a geopolitical decision. And he is able to use the economic power of the United States to avoid a hot war. So why wouldn’t we do that? You know, it’s the same thing — the same thing as if we had a national emergency with these gigantic trade balances that we had with the rest of the world — I’ve been in the financial markets for 30, 45 years — it’s better to be strategic, to avoid the emergency.

WELKER: You say this is a national emergency. But you also say it’s a threat. That’s years away. How can both be true, Mr. Secretary?

BESSENT: Because you’re avoiding creating urgency, Kristen. What if, during the Great Financial Crisis, someone had raised their hand in 2005 or 2006 and said, “Stop subprime mortgages?” But no one did it. President Trump raises his hand. And that avoids the emergency.

SEE ALSO: New: Trump hits Europe with tariffs on Greenland

Bessent reveals staggering amount of fraud in US budget, warns ‘coward’ Tim Walz

The conversation turned to the Federal Reserve and the reported investigation into Chairman Jerome Powell, with Welker questioning whether a Justice Department investigation into the renovations threatened the Fed’s independence. Bessent was ready and pressed the critical point of the Fed’s continued lack of responsiveness to surveillance attempts.

.@SecScottBessent on Fed Chairman Jerome Powell: “I don’t know about you. If I were to receive requests from the Justice Department, I would respond to them. They went unanswered.” pic.twitter.com/nSA8AJsB0h

– Rapid Response 47 (@RapidResponse47) January 18, 2026

WELKER: Is President Trump committed to the independence of the Federal Reserve, Mr. Secretary?

BESSENT: Of course, he’s committed to the independence of the Federal Reserve. But independence does not mean the absence of control.

WELKER: But doesn’t it undermine the independence of the Federal Reserve if the Justice Department investigates renovations? There are renovations going on at the White House.

BESSENT: The renovations at the White House are not $700 million, but over a billion dollars or $1.5 billion over budget, Kristen. And the White House is financed by private funds. If I want to – if I want to buy a new chair for my office at Treasury, it’s a credit.

Just so you understand, the Federal Reserve has magic money. They print their own money. So, when you have no supervision, why not have a little sun?

Kristen, I have been calling since last summer for the Fed to conduct its own internal investigation. And this was not taken into account, no attention was paid to it. And again, I don’t know about you. when I received a request – if I were to receive requests from the Department of Justice, I would respond to them. They remained unanswered.

This seems like a good argument: Should the Fed exercise oversight and accountability? If so, it would seem that this review is warranted.

MTP’s full interview with Bessent can be viewed below:

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