Recently, the Wall Street Journal published an in-depth feature report on US Treasury Secretary Scott Bessent. Based on interviews with more than 30 current and former Treasury officials, White House figures, and Wall Street insiders, the author documented in detail the internal dynamics of Bessent's 20 months in office.

The report paints a picture of a Treasury Department filled with tension: a hot-tempered, hard-nosed Treasury Secretary who is facing dual pressures from the departure of senior executives internally and unmet economic goals externally. The article argues that Bessent's management style—including erupting at subordinates and even using profanity—was a significant factor driving several key Treasury officials to leave. However, this tough approach has not cost him the President's trust. On the contrary, Trump has become even more reliant on him to address stubborn economic problems such as inflation, high borrowing costs, and massive debt.

Although Bessent wields considerable power internally, Wall Street is beginning to doubt whether he can be "the adult in the room"—the one who keeps things under control. As US Treasury yields surge and the fiscal deficit widens, Bessent's management style and unmet economic promises are becoming a potential risk for markets and Republicans in the upcoming midterm elections.

Explosive Temper: Public Berating, Throwing Folders

Bessent's management style has been described as extremely high-pressure. According to the Wall Street Journal, in January of this year, Trump asked the Treasury to investigate fraud allegations in Minnesota's Somali community. Bessent believed that Deputy Secretary for Terrorism and Financial Intelligence John Hurley was too slow to act. So he shouted at Hurley and used profanity in front of multiple aides, loud enough that staff in nearby offices could hear. Weeks later, Hurley left the Treasury to become US Ambassador to the OECD.

Such emotional outbursts are not isolated incidents. The report, citing people familiar with the matter, said Bessent last year became so frustrated with how the daily briefing folder was organized that he threw the entire folder against a wall. Bessent himself denied this account.

Last December, protesters from the liberal group Code Pink interrupted Bessent's meal at a Washington restaurant, criticizing the Trump administration's sanctions policy. Bessent berated the protesters on the spot as "ignorant" and unleashed his anger at the restaurant owner, demanding that the protesters be ejected. According to the restaurant owner and a diner present, Bessent then spat in his own food and stormed out.

He also once threatened at a private dinner to "punch" Federal Housing Finance Agency Director Bill Pulte in the face.

Wave of Departures: Seven Senior Officials Leave, Positions Hard to Fill

This fiery temper has directly led to the loss of senior executives at the Treasury.

According to data from the nonprofit Partnership for Public Service, as of the end of August this year, seven Senate-confirmed officials had left. By comparison, the previous four administrations typically saw only zero to two such departures during the same period. In addition, the Internal Revenue Service has undergone historic turnover, and its commissioner position remains vacant.

The Wall Street Journal article points out: "Bessent's behavior was one of the reasons—sometimes even the main reason—that multiple key officials left."

Why would a Treasury Secretary be so emotional? Former Trump White House Chief Strategist Steve Bannon explained that it stems from his intense sense of purpose. "He's a good guy, but he has triggers, and he has a temper," Bannon said. "'We're here for a purpose and a mission, we're mission-oriented. I don't care about your feelings. If your feelings are hurt, I'm sorry, but get out.'"

Unfulfilled Economic Promises: The "3-3-3" Goals Fall Flat Across the Board

Although Bessent pursues high-pressure management internally, the economic goals he promised Trump have not been achieved on schedule. He had suggested that Trump pursue a "3-3-3" policy: reduce the budget deficit to 3% of gross domestic product by 2028, stimulate GDP growth of 3%, and increase oil production by 3 million barrels per day.

However, the actual data appears somewhat sobering. Current economic growth is only around 2%, and oil production has increased by less than 1 million barrels per day. More critically, according to the Committee for a Responsible Federal Budget, the budget deficit currently exceeds 6% of GDP, and total US debt recently surpassed the $40 trillion mark.

If the US economy is compared to a massive ship, Bessent is trying to use a powerful engine—policy intervention—to make it accelerate and sail smoothly, but the ship's waterline—debt and deficit—is getting deeper and deeper. The selloff in US Treasuries has pushed the 10-year Treasury yield to its highest level in more than two decades, driving up borrowing costs for Americans.

This situation has sparked market concerns. Former Treasury official and Beacon Policy Advisors Managing Partner Stephen Myrow said bluntly: "Many in the investment community had hoped he would be the adult in the room." But he noted that investors "are starting to see his behavior increasingly resemble Trump's... and that has shaken confidence in him."

Personnel Arrangements: Highly Concentrated Power

Facing external skepticism and internal turmoil, Bessent has chosen to concentrate power within a small circle of people he trusts. He has promoted several former colleagues who worked with him at his investment firm Key Square Capital Management. For example, he handed effective control of the Office of Terrorism and Financial Intelligence to ally Gene Lange, who oversees everything from money laundering to sanctions.

Assistant Secretary Hunter McMaster and Francis Browne, who is set to become Deputy Secretary, also came from Key Square. Browne's sister, Erin Browne, was recently confirmed by the Senate to serve as Under Secretary for International Affairs at the Treasury.

Bessent's senior advisor and chief spokesperson, Alexandra Preate, had already been doing public relations work for him before he joined the administration.

The article notes that this highly concentrated power structure allows Bessent to have the final say within the enormous Treasury bureaucracy, but it has also raised questions about an overly closed decision-making circle.

Trump's "Monster," Wall Street's Hidden Worry

While Bessent's personnel arrangements have sparked controversy, they have allowed him to efficiently execute the President's agenda. From the impact of artificial intelligence on the economy to trade negotiations with China to crafting sanctions plans to cut off Iran's international financial system, Bessent's portfolio is extremely broad.

A senior government official who has worked with Bessent said the President's entire economic policy agenda rests on the Treasury Secretary's shoulders. "Scott cannot fail."

Notably, Bessent's tough style has actually elevated his standing in Trump's eyes. According to people familiar with the matter who spoke to the media, Trump calls Bessent almost every day. Trump even joked at an event in April that he had turned this difficult Treasury Secretary into a "big star," quipping: "I created a monster."

The White House has also expressed firm support for Bessent. White House spokesperson Taylor Rogers emphasized in a statement to the Wall Street Journal: "The professionalism and accountability Secretary Bessent has instilled throughout the department are among the greatest achievements of this administration."

Media Conflicts and Potential Future Impact

Bessent is not only tough internally but also uncompromising with the media. According to reports, he frequently yells at communications staff over news coverage he dislikes. He even revoked the credentials of reporters from the Wall Street Journal, the New York Times, and Bloomberg to cover the G-20 finance ministers' summit.

In a recent interview with Axios, Bessent went further, calling the UK's Financial Times a "disgraceful publication" and accusing them of being "anti-American." This all-out confrontation with the media has further shaped his combative public image. Facing criticism, he appears full of confidence, even mocking Wall Street skeptics as "Bloomberg terminal bros," and declaring: "I'm the house now... you want to short me, go right ahead."

So what does this management style and policy direction mean for the future? The author suggests in the report that if high borrowing costs and inflation cannot be resolved, it could undermine Republican chances in the upcoming midterm elections.

In summary, Bessent is attempting to manage a massive state apparatus using the extreme pressure tactics of a Wall Street macro investor. While this approach caters to the President's political needs in the short term, in the long run, if economic data continues to deteriorate, the loss of market confidence will bring immeasurable potential risks. The ultimate cost of this policy gamble may need to be borne by the entire US economy.