TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Bessent says there are 'no guarantees' there will not be a US recession
But Bessent, speaking to NBC's "Meet the Press," ruled out the chance of a financial crisis.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Treasury Secretary Scott Bessent walks out of the West Wing to do a television interview on the North Lawn of the White House on March 14, 2025 in Washington, DC. (AFP/Roberto Schmidt)
T
here are "no guarantees" there will not be a recession in the United States, although there could be an adjustment, Treasury Secretary Scott Bessent said in an interview that aired on Sunday.
But Bessent, speaking to NBC's "Meet the Press," ruled out the chance of a financial crisis.
US stock markets closed down sharply last week amid mounting uncertainties arising from President Donald Trump's frequently shifting policies, including tariff threats against the biggest US trading partners.
Asked whether he could guarantee there would be no recession while Trump was in power, Bessent replied: "There are no guarantees. Who would have predicted COVID?"
Bessent said he was putting in robust policies that would be durable, saying the country needs to be weaned off what he called massive government spending.
Asked whether an adjustment could lead to a recession, Bessent said, "There is no reason that it has to."
Bessent dismissed concerns about recent stock market falls, saying corrections were healthy and that markets "will do great" if the administration puts into place good tax policy, deregulation and energy security.
"We are going to have a transition, and we are not going to have a crisis," he said.
