US Treasury Secretary: No reason to expect a recession
AP Photo/Matt Kelley, File
US Treasury Secretary Scott Bessent says he sees "no reason" to expect a recession as a result of Trump's tariffs, News.Az reports citing NBC.
“I think we could see from the jobs number on Friday that was well above expectations that we are moving forward," he tells NBC's Meet the Press.
Bessent also plays down the recent stock market dip after the tariffs announcement, calling it a "short-term" reaction.
"This is an adjustment process," he says. "What we saw with President Reagan, when he brought down the great inflation and we got past the Carter malaise, that there was some choppiness at that time, but he held the course, and we're going to hold the course."
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