Treasury Sec. Scott Bessent says there are ‘no – Business News
There are “no guarantees” there won’t be a recession within the US, though there could possibly be an adjustment, Treasury Secretary Scott Bessent stated in an interview that aired on Sunday.
But Bessent, chatting with NBC’s “Meet the Press,” ruled out the prospect of a financial disaster.
US stock markets closed down sharply final week amid mounting uncertainties arising from President Trump’s ceaselessly shifting insurance policies, together with tariff threats in opposition to the largest US trading companions.
Treasury Secretary Scott Bessent stated Sunday “there is no reason” an adjustment in insurance policies has to result in a recession. NBC
Asked whether or not he may guarantee there could be no recession whereas Trump was in energy, Bessent replied: “There are no guarantees. Who would have predicted COVID?”
Bessent stated he was placing in sturdy insurance policies that will be sturdy, saying the nation must be weaned off what he referred to as large authorities spending.
Bessent and President Trump on the White House on March 7. Getty Images
Asked whether or not an adjustment may result in a recession, Bessent stated, “There is no reason that it has to.”
Bessent dismissed issues about latest stock market falls, saying corrections had been healthy and that markets “will do great” if the administration places into place good tax coverage, deregulation and vitality security.
“We are going to have a transition, and we are not going to have a crisis,” he stated.
