He says that corrections are normal and recession cannot be ruled out.
U.S. Treasury Secretary Scott Bessent recently said that there are “no guarantees“ when it comes to recession, but he doesn’t believe there will be one.
Secretary Bessent said, “I can predict that we’re putting in robust policies that will be durable. And could there be an adjustment? Because I tell you that this massive government spending that we’d had, that if that had kept going, we have to wean our country off of that.”
“I can tell you that corrections are healthy, they’re normal. What’s not healthy is straight-up, that you get these euphoric markets. That’s how you get a financial crisis,” the treasury secretary said. “It would’ve been much healthier if someone had put the brakes on in ‘06, ‘07, we wouldn’t have had the problems in ‘08. So, I’m not worried about the markets.”
As the Lord Leads, Pray with Us…
- For Secretary Bessent to be prudent in his assessment of the nation’s financial situation.
- For U.S. Treasury officials as they seek to ensure the obligations of the country are met.
Sources: WRIC, The Hill, CNN
