Treasury Secretary Scott Bessent contradicted Trump’s claims that he would supercharge the economy and the stock markets would explode under his leadership as soon as he was elected by telling NBC’s Meet The Press “there are no guarantees” after he was asked if a recession is looming.
WELKER: Secretary, can you guarantee the American people here and now that there will be no recession on President Trump’s watch?
BESSENT: You know that there are no guarantees, who would have predicted COVID, right?
So I can predict that we are putting in robust policies that will be durable. And could there be an adjustment? Because I tell you that this massive government spending that we’ve had, that if that had kept going, we have to wean our country off of that.
And on the other side, we are going to invigorate the private sector. I had a meeting with small bankers last week, and they are ready to start lending.
And I can tell you that Main Street is going to do well.
WELKER: So what exactly do you mean when you say adjustment? Could that potentially lead to a recession?
BESSENT: There’s no reason that it has to, but I can tell you that if we’d kept on this track, what I could guarantee is we would have had a financial crisis.
