There are “no guarantees” there won’t be a recession within the US, though there may very well be an adjustment, Treasury Secretary Scott Bessent mentioned in an interview that aired on Sunday.
However Bessent, chatting with NBC’s “Meet the Press,” dominated out the prospect of a monetary disaster.
US inventory markets closed down sharply final week amid mounting uncertainties arising from President Trump’s continuously shifting insurance policies, together with tariff threats towards the most important US buying and selling companions.
Requested whether or not he may assure there can be no recession whereas Trump was in energy, Bessent replied: “There are no guarantees. Who would have predicted COVID?”
Bessent mentioned he was placing in sturdy insurance policies that might be sturdy, saying the nation must be weaned off what he known as huge authorities spending.
Requested whether or not an adjustment may result in a recession, Bessent mentioned, “There is no reason that it has to.”
Bessent dismissed issues about current inventory market falls, saying corrections have been wholesome and that markets “will do great” if the administration places into place good tax coverage, deregulation and power safety.
“We are going to have a transition, and we are not going to have a crisis,” he mentioned.
