US Treasury Secretary Scott Bessent, a former hedge fund manager, has expressed confidence that the recent market downturn is a necessary “healthy correction”. The downturn has seen trillions of dollars wiped from the equities market, but Bessent believes it’s a sign of a stronger economy in the long run. He points to the implementation of good tax policy, deregulation, and energy security as key factors in stabilizing the markets and driving growth.
Source: https://www.bloomberg.com/news/articles/2025-03-16/bessent-says-he-s-not-worried-about-market-corrections-healthy