Unprecedented! USD redesign: Trump's signature will be printed on the banknotes. U.S. Treasury Secretary: It reflects the President's "historic achievements" and is very appropriate!

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The U.S. Department of the Treasury announced on March 26 local time that starting this summer, U.S. paper currency will begin to feature President Donald Trump’s signature. It is said to be the first time that the current U.S. president has signed U.S. banknotes. In a statement, the U.S. Department of the Treasury said this redesigned currency “is intended to commemorate the 250th anniversary of American independence,” and at the same time will break with a 165-year tradition by no longer printing the signature of the U.S. Treasury’s Treasurer; however, it is claimed that the overall design of the banknotes will remain unchanged.

U.S. Treasury Secretary: During Trump’s second term

“The U.S. economy is growing strongly and the financial system is stable”

According to reports, the first batch of $100 bills bearing the signatures of Trump and U.S. Treasury Secretary Bessent will be printed in June, and then, over the following months, other denominations will be printed in succession. The new banknotes may take several weeks before they circulate through the banking system.

In a statement, Bessent said that given that, during Trump’s second term, “the U.S. economy is growing strongly and the financial system is stable,” the move is “very appropriate” as an arrangement to commemorate the 250th anniversary of the founding of the United States.

“There is no better way to highlight the historic achievements our great nation and President Trump have made than by issuing dollar banknotes bearing President Trump’s name,” Bessent said in the statement.

The Treasury’s Comptroller, Brandon Beech, also said: “As the architect of the economic revival of America’s golden age, the president’s position in history is beyond doubt. Printing his signature on U.S. currency is not only appropriate, but also fully deserved.”

The report noted that this change in signatures is the latest initiative by the Trump administration and its allies to put presidents’ names on buildings, institutions, government projects, warships, and coins. A federal art commission, whose members were appointed by Trump, approved last week the design proposal for commemorative gold coins featuring Trump’s portrait.

After the U.S. Mint submitted the proposal, the U.S. Fine Arts Commission approved the design unanimously.

Image source: Visual China

Previously, due to legal prohibitions on printing portraits of living people on U.S. coins, the plan to roll out a circulating “$1 Trump coin” had been held back.

Treasury officials also said that besides Trump’s signature replacing the Treasurer’s signature, the overall design of the banknotes will not change. At present, it is not yet immediately possible to see draft samples of the $100 banknotes bearing Trump’s signature.

Multiple institutions raise the probability of a U.S. recession

However, due to additional downside risks to the U.S. economy stemming from the delayed U.S.-Iran war, multiple institutions have recently raised the probability that the U.S. economy will fall into recession.

According to the U.S. side on the 25th, models from Moody’s Analytics show that the probability of a U.S. recession within the next 12 months has already risen to 48.6%; Goldman Sachs has raised this predicted probability to 30%; Wilmington Trust and EY-Boschlon respectively expect the probability of a U.S. recession to be 45% and 40%. In typical circumstances, this probability should be around 20%.

Mark Zandi, chief economist at Moody’s Analytics, said that what is worrying is that the recession risk is “high enough to be uncomfortable and is still continuing to rise.” A recession is already a real threat. If the current high oil prices persist through late May to the end of the second quarter, “the U.S. economy will fall into recession.”

Luke Tilley, chief economist at Wilmington Trust, warned that U.S. consumer spending largely depends on rising asset prices. Over the past two years, 20% to 25% of the growth in consumer spending has come from the boost of stock market wealth effects; without this boost, economic growth will slow significantly.

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Responsible editor: Song Yafang