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.