tl;dr
U.S. Treasury Secretary Scott Bessent discusses the current downturn in the stock market, stating that corrections are healthy and normal. He believes that continuous parabolic ascent would have been more worrying and that good tax policies, deregulation, and energy security will lead to great marke...
U.S. Treasury Secretary Scott Bessent discussed the impact of government spending on the economy and the stock market on NBC's Meet the Press. He emphasized that corrections in the stock market are healthy and normal, and that good tax policies, deregulation, and energy security will lead to strong market performance over the long term. Bessent suggested that the U.S. economy may undergo an adjustment as it moves away from massive government spending, and while he couldn't guarantee there wouldn't be a recession, he believed the U.S. was on a more sustainable fiscal path.
President Trump declined to predict a recession, highlighting the long-term impact of economic policies on Sunday Morning Futures with Maria Bartiromo. He stressed the importance of building a strong foundation for the future and emphasized the period of transition due to bringing wealth back to America.
Bessent also addressed the downturn in the stock market, stating that a continuous parabolic ascent would have been more worrying, and expressed confidence in the impact of good tax policies, deregulation, and energy security on the market's long-term performance. He highlighted the need for a sustainable fiscal path in the U.S. economy.
Last week, President Trump also refused to rule out a recession, citing the transition period and the effort to bring wealth back to America as significant factors in building a strong foundation for the future.