Following the worst result in Wall Street since the early days of the COVID-19 pandemic, US Treasury Secretary Scott Bessent said Wall Street has a history of underestimating President Donald Trump, whose tariff policies are increasing fears that the economy will suddenly launched into a recession.
Scott Bessent minimized the fall of actions as a short -term reaction. In an interview with NBC’s “Meet The Press”, which aired on Sunday (6), he also gave no indication that President Donald Trump will retreat from these aggressive tariffs and dismissed recession.
As in 2016
“Everything is working very well, so the American people can be very comfortable with that,” Bessent told NBC. On Friday, Dow Jones Industrial Averag fell 5.5%, losing 2,231 points, the S&P 500 fell 6%and Nasdaq, 5.8%.
Bessent said that “we have these short -term market reactions from time to time” and added that Wall Street has consistently underestimated Trump, pointing to an initial decline of the actions after he unexpectedly won the 2016 election.
“And it turned out that he would be the most pro-negotiation president in over a century, perhaps in the country’s history. And we had very high post-inflation returns for the next four years,” Bessent said.
