Treasury Secretary Scott Bessent said Sunday on NBC’s “Meet the Press” that there was “no reason” for markets to be concerned a recession is coming.
Host Kristen Welker said, “Let me ask you about one of the big questions, recession, as you know, the chances of a recession are rising in the wake of the tariffs announced this week. Do you believe that President Trump’s tariffs are risking the chances of a recession?”
Bessent said, “I don’t, and I think we can see from the jobs number on Friday that it was well above expectations that we are moving forward. So I see no reason that we have to price in a recession.”
Welker said, “I know you’ve been one of the officials spearheading the efforts to get President Trump’s budget bill passed on Capitol Hill. It includes the president’s plans for tax cuts, extending the 2017 tax cuts, for example. Are you confident that the president’s budget bill will pass before the August recess?
Bessent said, “We are shooting for even a much earlier date. Kristen, I can tell you the underreported story in D.C. It’s fun from our side of the aisle to watch the Democratic chaos but the underreported story is Speaker Johnson has done an incredible and he’s gotten continuing resolutions passed and Thune in the Senate issued reconciliation instructions. Things are moving very quickly. ”
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