Treasury Secretary Warns of Economic 'Adjustment' as Markets Decline
Scott Bessent says there are 'no guarantees' against a recession, citing the need for economic transition and durable policies.
- Treasury Secretary Scott Bessent stated he cannot guarantee the U.S. will avoid a recession, emphasizing the unpredictability of economic events.
- Bessent described recent stock market declines, including a 10% drop in the S&P 500, as a 'healthy correction' following what he called a 'euphoric' market phase.
- President Trump has implemented and threatened a series of tariffs, with some set to take effect in April, contributing to market volatility and investor concerns.
- Bessent defended the administration's economic policies, highlighting efforts to reduce government spending and promote private sector growth.
- Economists and analysts have expressed mixed views, with some warning of potential recession risks and others noting strong economic fundamentals.