Treasury Secretary Scott Bessent Defends Market Decline as 'Healthy' While Warning of Economic Uncertainty

Bessent, a Trump administration official, says there are no guarantees against a recession but insists long-term policies will stabilize the economy.

Scott Bessent, U.S. Treasury Secretary, described the recent stock market decline as a 'healthy correction' and emphasized the need for long-term economic adjustments.
Bessent acknowledged the possibility of a recession, stating there are 'no guarantees' against one, while defending the administration's fiscal policies as necessary to avoid a financial crisis.
The market downturn, which erased $5 trillion in value, has been linked to investor concerns over President Trump's tariff policies and government spending cuts.
Bessent argued that the American Dream is about access to housing and wage gains, not cheap consumer goods, as tariffs on major trading partners raise costs for consumers.
Despite public disapproval of Trump's economic handling, Bessent expressed confidence that deregulation, tax reforms, and energy security policies will drive long-term growth.