U.S. President Donald Trump asks U.S. Secretary of the Treasury Scott Bessent if he wants to be Fed Chair, at the White House in Washington, D.C., U.S., September 5, 2025. REUTERS/Brian Snyder
Within the Trump Administration, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick come across much differently in their defense of President Donald Trump's economic policies. Bessent, Trump critics say, comes across as a true believer when defending Trump's tariffs, while Bessent often sounds like he struggling to defend them.
Bessent, seven and one-half months into Trump's second presidency, is under a great deal of pressure — especially with a softening job market. And the treasury secretary, according to Politico's Rachel Bade, lost his cool with housing finance official Bill Pulte during a Wednesday, September 3 dinner.
Bade, in an article published on September 8, reports, "A private dinner attended by dozens of administration officials and close advisers to President Donald Trump was temporarily marred by a dramatic clash between two of Trump's top economic officials, with Treasury Secretary Scott Bessent at one point threatening to punch top housing finance official Bill Pulte 'in the f------ face.' The Wednesday evening event was supposed to be one of celebration: It was both the much-anticipated inaugural dinner at Executive Branch, the ultra-exclusive Georgetown club created by and for Trumpworld's uber-rich, and a birthday party for MAGA-friendly podcaster Chamath Palihapitiya."
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Attendees at the September 3 dinner, according to Bade, included Lutnick, Transportation Secretary Sean Duffy, Interior Secretary Doug Burgum, National Intelligence Director Tulsi Gabbard, and Agriculture Secretary Brooke Rollins.
During the dinner, Bade reports, Bessent "lashed out at Pulte in an expletive-laden diatribe."
"The Treasury secretary had heard from several people that the Federal Housing Finance Agency director had been badmouthing him to Trump, a person close to him said," the Politico reporter explains. "He wasn't about to engage in chit-chat as if nothing was amiss. 'Why the f--- are you talking to the president about me? F--- you,' Bessent told Pulte. 'I'm gonna punch you in your f------ face.'"
Bade continues, "The scene was described to me by one eyewitness and four other people familiar with what happened. The only fact they disagreed on was whether it was Bessent or Pulte who initiated the conversation. They and others who described the conflict were granted anonymity due to the sensitivity of the situation. Pulte appeared stunned, and the tense encounter prompted club co-owner and financier Omeed Malik to intervene, according to the three people. But Bessent wasn't having it — he sought to get him kicked out, the eyewitness said."
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Bessent, according to Bade's sources, told Pulte, "I'm going to f------ beat your ass."
"Seeking to deescalate the situation," Bade notes, "Malik separated the men, walking Bessent to another part of the club to calm down. During the seated dinner, Bessent and Pulte were placed on opposite ends of the table, and the party went off without further episode."
Bade continues, "Bessent, Pulte, Malik and the White House declined to comment.
The confrontation — which one Trump insider called 'bonkers' and another called 'unhinged' — underscores the surprising tensions between top Trump officials tasked with working on the nation's most sensitive economic matters."
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Read Rachel Bade's full article for Politico at this link.