In inaugural speech, Argentina's Javier Milei prepares nation for painful shock adjustment

Economist Javier Milei has been sworn in as Argentina’s president and has immediately moved to prepare the public for a painful shock adjustment with drastic public spending cuts. In his inaugural address, he presented figures to lay bare the scope of what he called the economic “emergency." But he promised the adjustment would almost entirely affect the state rather than the private sector, and that it represented the first step toward prosperity. With his inauguration on Sunday, the nation is wondering which version of him will govern: the chainsaw-wielding, anti-establishment crusader from the campaign trail, or the more moderate president-elect who emerged in recent weeks.