US Treasury Secretary Scott Bessent has stated that there are no guarantees about a potential recession hitting the country. He believes that robust policies and efforts to reduce massive government spending will help stabilize the economy.
Bessent’s comments come as consumer confidence has plummeted, and many Americans disapprove of President Trump’s handling of the economy. The president himself has also been hesitant to make promises about the nation’s finances. However, Bessent is not worried about a recession, citing the importance of corrections in maintaining market stability.
He noted that he can predict the implementation of sustainable policies, which will help avoid financial crises. Bessent also downplayed concerns about the stock market, stating that corrections are normal and healthy for the economy. Despite a tumultuous week for US stocks, he remains optimistic about the country’s economic future.
Source: https://eu.usatoday.com/story/news/politics/2025/03/16/treasury-secretary-bessent-recession-no-guarantees/82468575007