The United States Secretary of the Treasury, Scott Bessent, expressed his optimistic opinion regarding the country's economic future, dismissing the possibility of a recession but not completely assuring that it won't happen. In an interview with Maria Bartiromo from Fox Business, Bessent stated that the underlying economy is strong and that there are no reasons to anticipate a recession, while describing the idea of guaranteeing that it won't occur as "absurd."
Despite this optimistic stance, Bessent acknowledged that economists have warned about an increasing risk of economic slowdown, partly due to the uncertainty generated by the tariffs imposed by President Donald Trump and the consequences these could have once implemented. However, the Secretary of the Treasury emphasized that there is no sound reason for the country to enter a recession.
Bessent pointed out that, although the economy may experience a transition period by reducing its dependence on public spending, the Trump administration aims to control this spending, repatriate manufacturing, and make the country more affordable for American workers. In this way, the economy is expected to strengthen and a "great boom" to occur.
Regarding the reciprocal tariffs to be announced on April 2, Bessent mentioned that each country will receive a number representing the assigned tariffs, which could lead to negotiations to reduce those levels. Additionally, efforts are being made to legislate restrictions on outbound investments to China to protect U.S. economic interests abroad.
Ultimately, Bessent expressed confidence that the country will be able to avoid potential recessions and that the economy will continue to strengthen, supporting his stance with positive data from credit cards and banks. Together with the Trump administration, they seek to maintain economic growth and mitigate the negative impacts that could arise.
