Scott Bessent calls Mamdani 'leader of the Democratic Party,' touts weekly Warsh breakfasts and a new push to put every American in the stock market

s (Credit: Andrew Harnik/Getty Images)

Treasury Secretary Scott Bessent used a wide-ranging CNBC interview Wednesday to weigh in on New York City (and national) politics, the Federal Reserve, and an ambitious plan to close America’s investment gap. He arrived at CNBC’s Squawk Box studio in Times Square on Wednesday morning with a lot on his mind—and a not-so-subtle political message to deliver.

Less than 24 hours after Mayor Zohran Mamdani’s progressive allies swept three competitive House Democratic primaries in New York City, ousting two incumbent congressmen, Bessent said what he claimed President Trump had predicted months ago: “Last night we saw, Mayor Mamdani is the leader of the Democratic Party and the establishment Democrats, finally, we are seeing where the Democrats are going in this election.”