Trump moves to develop sovereign wealth fund to ‘create value for American citizens’
In order to better distribute regular cash to regular individuals, President Donald Trump announced Monday that he would establish a sovereign wealth fund, which would be a collection of assets similar to those found in other nations.
However, comprehensive information about the fund's operation was not readily available. During a ceremony in the Oval Office, Trump made the news. During his 2024 presidential campaign, he had proposed the establishment of such a fund.
At the event, Treasury Secretary Scott Bessent gave a quick overview of the fund.
"It will be a combination of liquid assets, assets that we have in this country as we work ... to bring them out for the American people," he stated.
According to Trump, the process of establishing up the fund, which might take up to a year to or...