In an interview with NBC on March 16, when asked if there could be a guarantee that there would be no recession under the Trump administration, US Treasury Secretary Scott Bessent replied: "There are no guarantees. For example, who could have predicted Covid-19?"
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| The US stock market has seen a sharp decline recently amid uncertainty caused by President Trump's frequent policy changes. (Source: Getty Images) |
Secretary Scott Bessent noted that the US government is building strong policies and there may be some adjustments in the economy.
However, the possibility of a recession stemming from such adjustments is unlikely, the official said.
“We will have a transition and we will not have a crisis,” Mr. Bessent said.
Previously, in an interview with Fox News, when asked about the risk of recession this year, President Trump did not deny it but said: "I hate to speculate about such things. There will be a transition period, because we are doing great things. We are bringing prosperity back to America."
He stressed that more time was needed for his economic policies to take effect.
The US stock market has seen a sharp decline recently amid uncertainty over President Trump's frequently changing policies, including tariff threats against major trading partners such as Mexico and Canada.
This development led to a significant drop in investor confidence and increased concerns about the possibility of an economic recession.
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