Treasury Secretary Scott Bessent said self-described democratic socialist New York Mayor-elect Zohran Mamdani is the new leader of the Democratic Party.
Bessent told CNBC's "Squawk Box" that following President Donald Trump hosting Mamdani for a White House meeting shows that he "is clearly the leader of the Democratic Party now."
Bessent said Mamdani ran a solid campaign to lead New York. "I think that you've got to have some admiration for a candidate who ran a campaign the way he did. It was a great, great campaign," he said.
He said the meeting with the president says something about Trump, too. "I think it speaks to how open-minded the president is that he invited him into the Oval [Office]," Bessent noted.
He pointed out that despite Mamdani running as a Democrat, Senate Minority Leader Chuck Schumer, D-N.Y., seemed to shy away from him. "Sen. Schumer never endorsed him. I don't even know if he's met with him," Bessent said.
Bessent said that while Mamdani appeared personable, his policies will fail. "My impression of the mayor-elect is he's a young man with a lot of old ideas that have never worked," he said. "Point to one example where policies like his have led to anything other than a decline."
But that's not enough, he said, for Trump to refuse at least an opportunity to talk since Trump wants the best for New York. "He hopes that New York will do well," Bessent said.
The real question, said Bessent, is whether Mamdani can manage the Big Apple. "It's easy to run a campaign, but the practical everyday of keeping people safe, picking up the trash, making the subways run on time, we'll see," he said.
Mamdani and Trump had traded verbal jabs at each other leading up to their meeting.
What may have been the defining moment of their Oval Office meeting was when a reporter asked Mamdani about his statement that he and Trump "are very clear about our positions and our views" and whether he still regards Trump as a fascist.
As Mamdani began to speak, Trump patted him on the arm and said, "That's OK. You can just say yes. It's easier than explaining it."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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