'There doesn't have to be a recession': Treasury Secretary Bessent seeks to quell economic concerns

[BumRushDaShow]

Source: Scripps News

Posted 3:19 PM, Apr 06, 2025


The Trump administration is hoping to alleviate some of the concerns regarding the U.S. economy as President Donald Trump's sweeping new tariffs on foreign trade partners go into effect. Speaking Sunday on NBC's "Meet the Press," Treasury Secretary Scott Bessent said "there doesn't have to be a recession" and expressed skepticism toward day-to-day market volatility.

"Who knows how the market is gonna react in a day, in a week," Bessent said. "What we are looking at is building the long-term economic fundamentals for prosperity that I think the previous administration had put us on a course toward financial calamity."

His comments come just days after all three major U.S. stock indexes closed in the red, following a week of sell-offs. The Dow Jones Industrial Average plunged Friday by more than 2,200 points to close at 38,314 — marking the first time the index has fallen below 40,000 since August 2024.

The Dow's 5% decline, meanwhile, was mirrored by the S&P 500 and Nasdaq Composite, which fell by 322 points and 962 points, respectively. The rough week on Wall Street came following President Trump's announcement that he was imposing a baseline 10% tariff on all U.S. trade partners, with additional tariffs on what the White House described as the "worst offenders."

Read more: https://www.scrippsnews.com/politics/president-trumps-first-100-days/there-doesnt-have-to-be-a-recession-treasury-secretary-bessent-seeks-to-quell-economic-concerns

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When you start to lay off the number of people they claim to or have laid off, they don't realize that there is a whole "secondary market" of businesses - an "ecosystem of economic activity" - that had been built around to support those workers. I.e., the coffee shops, diners, restaurants, bars, pharmacies, various retail establishments, etc. In urban areas with dense clusters of federal buildings, the effect is felt even more. It's like a mini "company town". This was seen during COVID when you had more working remotely. It was also seen during any government shutdowns - notably the longest one that happened during 45's first administration when some businesses had to shut down due to little or no customers.

[Bernardo de La Paz]

1. 1) Unforced error, 2) Bessent & Lutnick reveal they expect robot factories, not workers, 3) They don't care

4) tRump voters who expected lower prices and more jobs are going to get shafted.

It's an opportunity for Democrats to gain votes by commiserating and offering job oriented alternatives. Real populism, intelligent populism is needed now, I think.

[Karasu]

2. LMAO. Someone doesn't know fucking history.

[Phoenix61]

3. Who would invest in a country where the rule of law

no longer exists? Where the leader openly targets his perceived enemies.

[UpInArms]

4. When you live in an alternative reality

Your mouth says shit like this

"What we are looking at is building the long-term economic fundamentals for prosperity that I think the previous administration had put us on a course toward financial calamity."

[no_hypocrisy]

5. And there don't have to be tariffs.

It's that easy.

[Javaman]

6. of course there doesn't have to be one, but we still will because...stupidity. nt

[tanyev]

7. Right, and Covid would have gone away if they'd just slowed down the testing.

I can’t even.

[sinkingfeeling]

8. The entire administration is made up.of idiots.

[Midnight Writer]

9. There doesn't have to be a recession, but TeamTrump won't stop it.

[Marthe48]

10. We didn't have to have a criminal

In the White House, surrounded by idiot yesman, but here we are.

[Bengus81]

11. At the same time rumors flying about him wanting OUT of this shit show ASAP.

But keep a happy face on till you resign and blow town.

[intheflow]

12. ICE's zealous rounding up of tourists, along with

few having the discretionary funds to vacation, means entire tourist towns will become ghost towns. The stupid burns!!

[Deminpenn]

13. No, we did not have to have a recession, but here we are

Trump inherited a great economy, chugging along, stock market up, prices coming down. All Trump had to do was tell his transition to work with OPM to prepare for government wide RIFs, frozen agency spending and reduced the size of the federal workforce in an orderly way. Been there, done that. Everything would have proceeded smoothly,

But, nope, a cluelss idiot was put in charge and chaos followed. While all this was happening the syncophants and mercinaries (looking at you Susie Wildes) supported whatever Trump wanted or rolled over to his agenda of revenge and erasing all things Biden. Look in the mirror if you want someone to blame.

[republianmushroom]

14. Very true statement 'There doesn't have to be a recession':

but there will be with the trump tariffs and republican governing.