(Patriot.Buzz) – In an unexpected development, Treasury Secretary Scott Bessent dropped a recession bombshell: he admitted there are currently “no guarantees” against a recession.
While liberal economists decry President Donald Trump’s America First tariff policies, Bessent reassured Americans.
He stated that necessary economic adjustments do not have to trigger a full-blown recession, just short-term market corrections that will strengthen America’s economic foundation.
The Treasury Secretary’s blunt admission came during an interview that triggered panic from Wall Street and left-wing economists.
Markets have already been experiencing volatility since President Trump began implementing tariffs on foreign trading partners, including Canada and Mexico.
The Dow Jones dropped 890 points in a single day and the S&P 500 retreated 10% from February’s all-time high.
Despite these market reactions, Bessent maintained a calm, confident tone about America’s economic future.
“There is no reason an adjustment in policies has to lead to a recession,” Bessent said, emphasizing that temporary corrections are actually healthy for long-term growth.
While acknowledging economic uncertainties, Bessent clearly declared that no one can predict the future with absolute certainty.
“There are no guarantees. Who would have predicted COVID?” he reasoned. “I can predict that we are putting in robust policies that will be durable.”
Unlike the previous administration’s massive government spending and extensive borrowing approach, Bessent emphasized the Trump administration’s focus on strengthening the nation.
The Biden administration left behind a wounded economy reliant on Washington’s money printer.
Consumer sentiment declined, and Americans worried about their job security reached recession-like levels.
Commerce Secretary Howard Lutnick backed up Bessent’s measured stance, assuring Americans they should not brace for a recession despite market fluctuations.
The administration acknowledges that breaking America’s unhealthy dependence on foreign nations will cause short-term market disruption but maintains these adjustments are necessary for long-term economic stability.
“I’m not worried about the markets. Over the long term, if we put good tax policy in place, deregulation and energy security, the markets will do great,” Bessent explained.
Senator Bernie Moreno (R-OH) cut through the noise by pointing out that economic “experts” making dire predictions are often influenced by global corporate lobbyists who benefit from the status quo of offshoring American jobs.
These are the same experts who cheered globalization as American factories closed and manufacturing jobs disappeared overseas.
Meanwhile, former Obama-era Treasury Secretary Larry Summers claimed there is a near 50/50 chance of recession.
He blamed what he called “counterproductive economic policies,” a thinly veiled attack on President Trump’s America First approach.
This comes as leftist polls claim that 56% of American adults disapprove of President Trump’s economic handling despite his previous administration overseeing record-low unemployment.
Bessent remains confident that Americans will embrace the administration’s policies as they begin to see real results.
“We’ve been in for eight weeks. We’re putting the policies in place that will make the affordability crisis go down, inflation moderate…as we set the sails, I am confident that the American people will come our way,” he concluded.
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