Treasury Secretary Scott Bessent never disappoints when he makes a Sunday show appearance. That held true Sunday morning as he joined Kristen Welker on NBC News’ Meet the Press.
Whether the topic was Greenland or the Fed, Bessent was well prepared to address the questions Welker raised.
Right out of the gate, Welker zeroed in on Greenland, noting that both Denmark and Greenland insist it’s not for sale, and asking: “What makes President Trump think it is?” Bessent emphasized its strategic value.
.@SecScottBessent: “Greenland is essential to the U.S. national security… President Trump is being strategic. He’s looking beyond this year, he’s looking beyond next year, to what could happen for a battle in the arctic. We are not going to outsource our national security.” pic.twitter.com/f50uvJHnMR
— Rapid Response 47 (@RapidResponse47) January 18, 2026
BESSENT: Kristen, if we look for years, for over a century, American presidents have wanted to acquire Greenland. And what we can see is that Greenland is essential to the U.S. national security — we`re building the golden dome, the missile system.
And look, President Trump is looking — is being strategic. He is looking beyond this year. He`s looking beyond next year to what could happen for a battle in the Arctic. We are not going to outsource our national security. We are not going to outsource our hemispheric security to other countries.
In Trump 1.0, President Trump told the Europeans, “Do not — do not build Nord Stream 2. Do not rely on Russian oil.” And guess what, Kristen? Guess what is funding Russia`s efforts against Ukraine? European purchases of Russian oil. So, America has to be in control here.
Welker followed up by asking Bessent whether Trump is serious about annexing Greenland, or instead, using the discussion as a negotiating tactic. Bessent responded by noting the importance of ensuring peace through strength.
.@SecScottBessent: “If there were an attack on Greenland from Russia, from some other area, we would get dragged in — so better now. Peace through Strength… Europeans project weakness. The U.S. projects strength.” pic.twitter.com/KyREpkA7DP
— Rapid Response 47 (@RapidResponse47) January 18, 2026
BESSENT: President Trump strongly believes that we cannot outsource our security. Because, Kristen, let me tell you what will happen, and it might not be next year, might not be in five years. But down the road, this fight for the Arctic is real. We would keep our NATO guarantees. And if there were an attack on Greenland from Russia, from some other — other area, we would get dragged in.
So, better now, peace through strength, make it part of the United States, and there will not be a conflict because the United States right now, we are the hottest country in the world. We are the strongest country in the world. Europeans project weakness. U.S. projects strength.
Welker then pivoted to the role tariffs play in the discussion, questioning what “national emergency” might justify their use. Bessent explained that the goal here is to prevent an emergency.
.@SecScottBessent: “The national emergency is avoiding a national emergency… He is able to use the economic might of the U.S. to avoid a hot war, so why wouldn’t we do that?” https://t.co/spNNJkP5w2 pic.twitter.com/McanL8FBTU
— Rapid Response 47 (@RapidResponse47) January 18, 2026
WELKER: Let me ask you, broadly speaking, about the tariff portion of this. The president, as you well know, has justified his authority to impose previous tariffs without going to Congress by declaring national emergencies. It`s an issue before the Supreme Court right now. We`re all awaiting the high court`s decision. What is the national emergency that justifies these new slate of tariffs?
BESSENT: The national emergency is avoiding a national emergency. It is a strategic decision by the president. This is a geopolitical decision. And he is able to use the economic might of the U.S. to avoid a hot war. So, why wouldn`t — why wouldn`t we do that? You know, same — same thing that what if we had a national emergency coming with these gigantic trade balances that we had with the rest of the world — I`ve been in financial markets for 30, 45 years — much better to be strategic, avoid the emergency.
WELKER: You`re saying it`s a national emergency. But you`re also saying it`s a threat. It`s years away. How can both be true, Mr. Secretary?
BESSENT: Because you are avoiding creating the emergency, Kristen. What if during the great financial crisis, someone had raised their hand in 2005, 2006 and said, “Stop the sub-prime mortgages?” But no one did. President Trump is raising his hand. And that is preventing the emergency.
SEE ALSO: New: Trump Hitting Europe With Tariffs Over Greenland
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The conversation turned to the Federal Reserve and the reported investigation into Chair Jerome Powell, with Welker questioning whether a Justice Department investigation into the renovations threatens the Fed’s independence. Bessent was ready and drove home the critical point of the Fed’s ongoing lack of responsiveness to attempts at oversight.
.@SecScottBessent on Fed Chair Jerome Powell: “I don’t know about you. If I were to receive inquiries from the Justice Department, I would answer 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 no oversight.
WELKER: But doesn`t this undercut the independence of the Federal Reserve if the Justice Department is investigating renovations? There are renovations at the White House.
BESSENT: The renovations at the White House are not $700 million, more than $1 billion or $1.5 billion over budget, Kristen. And the White House, that is being paid for with private funds. If I want to — if I want to buy a new chair for my office at Treasury, that is an appropriation.
Just to understand, the Federal Reserve has magic money. They print their own money. So, when you have no oversight, why not have a little sunlight?
Kristen, I have called since last summer for the Fed to do its own internal investigation. And that has not been heeded, not been heeded. And again, I don`t know about you. when I received inquiry — if I were to receive inquiries from the Justice Department, I would answer them. They went unanswered.
That seems a fair point: Is there to be any oversight of and accountability from the Fed? If so, then it would seem the scrutiny is warranted.
The full MTP interview with Bessent may be viewed below:
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