Scott Bessent

Treasury Secretary, US Treasury

JUST IN: First Lady Melania Trump And Scott Bessent Launch 'Fostering The Future Accounts'

📅 Jun 11, 2026 Forbes Breaking News 13 MIN 1374 VIEWS 6 SEGMENTS · 3 SPEAKERS

First Lady Melania Trump and Treasury Secretary Scott Bessent held an event at the Treasury Department on Thursday to make an announcement. Stay Connected Forbes Breaking News on X: https://x.com/ForbesTVNews Forbes Breaking News on TikTok: / forbestvnews More From Forbes: http://forbes.com

What Scott Bessent said

Written from the verified transcript and checked against it. Every figure links to the moment it was said.

Treasury Secretary Scott Bessent announced the launch of 'Fostering the Future Accounts' for children in foster care, powered by 'Trump accounts.' He said every American child born between January 2025 and December 2028 is eligible for a $1,000 seed contribution from Treasury, which he projected could grow to at least half a million dollars by retirement age. Bessent credited First Lady Melania Trump for ensuring foster youth are embedded in the program from the outset, with no barriers to access. He noted that when Trump accounts launch on July 4th, all eligible children, including those with the state as legal guardian, can participate. States can direct survivor and SSI benefits into these accounts. He highlighted Louisiana's example under Governor Jeff Landry and urged all 50 states to participate. Bessent cited that over 330,000 young people are in foster care, one in five become homeless after aging out, and only half obtain gainful employment by age 24.

Key takeaways

Every American child born between January 2025 and December 2028 is eligible for a $1,000 seed contribution from Treasury into a Trump account.
Trump accounts launch on July 4th, with foster youth included from the outset and no barriers to access.
A $1,000 deposit in an index fund could grow to at least half a million dollars by retirement age, assuming historical growth rates.
States can direct survivor and SSI benefits into foster youth's Trump accounts to accelerate gains.
Over 330,000 young people are in foster care; one in five become homeless after aging out, and only half obtain gainful employment by age 24.

Numbers and commitments

Figure	What it refers to	Type	At
$1,000	Seed contribution per eligible child from Treasury	commitment	6:05
330,000	Young people in foster care	metric	6:05
July 4th	Launch date for Trump accounts	timeline	6:05
January 2025 and December 2028	Birth date range for eligibility	timeline	6:05

Chapters

0:00Introduction and first lady's remarks
1:02Fostering the Future Accounts announcement
6:05Trump accounts and seed contribution

Narrator 0:01 ↗

Ladies and gentlemen, please welcome to the stage the 79th Secretary of the Treasury, Scott Bessent.

Scott Bessent 0:20 ↗

Good morning. Thank you all for joining us on this historic occasion. And of course, let me extend a warm welcome to the first lady of the United States, Melania Trump.

3 more exchanges in this transcript

Cite this transcript

APA, MLA, BibTeX

APA

Bessent, S. (2026, June 11). JUST IN: First Lady Melania Trump And Scott Bessent Launch 'Fostering The Future Accounts' [Interview transcript]. Forbes Breaking News. CEOInterviews.AI. https://ceointerviews.ai/interview/977671/

MLA

Scott Bessent. "JUST IN: First Lady Melania Trump And Scott Bessent Launch 'Fostering The Future Accounts'." Forbes Breaking News, 11 Jun. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/977671/.

BibTeX

@misc{bessent2026_977671,
  author       = {Scott Bessent},
  title        = {JUST IN: First Lady Melania Trump And Scott Bessent Launch 'Fostering The Future Accounts'},
  howpublished = {Interview transcript, Forbes Breaking News. CEOInterviews.AI},
  year         = {2026},
  month        = {jun},
  url          = {https://ceointerviews.ai/interview/977671/},
  note         = {Speaker-attributed transcript with timestamps}
}

▶

Key Quotes (2)

“Trump accounts are historic new savings tool to democratize the benefits of private ownership and compound growth. Every American child born between January 2025 and December 2028 is eligible to receive a $1,000 seed contribution from Treasury. Assuming historical growth rates continue, that single deposit in an index fund should grow to at least half a million dollars by the age of retirement, de”

▶ 7:18 POLICY

“Trump accounts will build long-term financial security for millions of children and for foster youth in particular. The program will ensure that their futures are shaped more by the possibilities rather than by the circumstances behind them.”

▶ 10:17 POLICY

Mentioned in this interview

Melania Trump: First lady whose initiative led to Fostering the Future Accounts

Governor Little: Idaho governor who pledged to set up accounts

Governor Jeff Landry: Louisiana governor praised for leadership in foster youth investment

Alexander Hamilton: First Treasury Secretary, an orphan, cited as historical inspiration

Eliza Hamilton: Established New York's first private orphanage

Be Best: First lady's campaign that includes fostering the future

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About Scott Bessent

Treasury Secretary Scott Bessent has been a prominent public voice on the U.S. economy, trade, and sanctions policy in recent months. In interviews and public appearances, he has described the U.S. economy as strong and accelerating, citing rising wages, manufacturing and construction growth, and what he characterized as a productivity boom driven by deregulation and tax cuts. He attributed recent inflation partly to an energy supply shock related to the Iran conflict, and expressed confidence that core inflation was near the Federal Reserve's target. Bessent also discussed U.S.-China relations, saying he met with Chinese officials for extended talks on trade and artificial intelligence, and announced an extension of an economic detente agreement and the creation of a U.S.-China AI dialogue. Regarding Iran, Bessent described an administration effort he called "Operation Economic Outcast," involving sanctions, bank closures, and restrictions on Iranian airlines and maritime activity. He stated that Iran was "on its knees" and isolated from the global financial system, and predicted the Strait of Hormuz would become less strategically important within two years due to new pipeline capacity. He also said the administration would not provide a "liability shield" to AI companies seeking protection from potential risks, and testified before Congress on topics including the federal debt, financial regulation, and the international role of the U.S. dollar.

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