Treasury Secretary Scott Bessent expressed confidence in the stock market despite recent dips due to President Donald Trump’s tariff threats, stating that market corrections are healthy and normal. Trump’s tariff threats against various countries have caused fluctuations in the stock market, sparking fears of longer-term economic issues. Bessent did not rule out the possibility of a recession but emphasized the importance of robust policies and weaning off massive government spending. Trump, on the other hand, has expressed optimism about the economy and downplayed concerns about a recession or market sell-off. Bessent urged Americans to observe how countries respond to reciprocal tariffs starting in April, emphasizing the potential for fairer trade or increased revenues for the U.S. He also addressed cuts to the IRS following a federal workforce reduction, stating that essential employees were retained. Overall, Bessent and Trump hold differing views on the potential impact of tariffs and economic policies on the country’s economic outlook, with Bessent emphasizing the need for careful observation and Trump expressing confidence in the economy.
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