March 17, 2025
Recession Risks
Bessent, speaking on ‘Meet The Press’, said continuing current spending levels would lead to a financial crisis, and the country is now resetting to a more sustainable path.
Source: X (@scottbessent_41)
President Trump has prioritized cutting government spending, launching the Department of Government Efficiency with Elon Musk at the helm. However, the U.S. budget deficit has soared, and Bessent acknowledged the risk of a recession.
Healthy Market Corrections
While Wall Street is concerned about Trump’s tariffs, Bessent remains unfazed, saying market corrections are healthy. He fully supports Trump’s economic policies, including protectionist trade moves, despite potential risks.
Bessent’s relationship with other officials, like Commerce Secretary Lutnick, has been tense, but the White House insists he backs Trump’s vision. He acknowledges the transition will be painful but necessary for long-term stability.
