US Treasury Secretary Scott Bessent on Economic Stability

In a recent statement, United States Treasury Secretary Scott Bessent expressed a lack of concern regarding minor market volatility over a short period. Emphasizing the administration's focus on the "real economy" and long-term growth, Bessent highlighted the broader context of ongoing tariff negotiations.

Bessent pointed out that, with the exception of metals and possibly autos, all other sectors remain open for negotiation. This comes in the wake of President Donald Trump's threat to impose a 200% tariff on alcohol imports from the European Union, a move that has stirred international trade discussions.

Addressing the US Economy's Spending Issue

According to Bessent, the US economy is grappling with a spending problem, which the government is actively working to manage. He suggested that while it would have been simpler to maintain the existing spending trajectory, a necessary "detox" from excessive spending does not inevitably lead to a recession. Bessent's remarks to CNBC underscore a commitment to fiscal responsibility without derailing economic progress.