Treasury Secretary Scott Bessent said Sunday on NBC’s “Meet the Press” that the American people were “traumatized” by the Biden administration’s “affordability crisis.”
Bessent said, “I am not going to say that it went on for a long time under the Biden Administration and for the media, and I’m not going to point finger, but they used to say it was a vibe session and the American people don’t know what they talk about.”
He continued, “Donald Trump, his administration, myself, all believe that the American people know what they’re feeling, and that we believe that our policies is will change that. Clearly, they are traumatized by what’s happened with this affordability crisis that was brought on by the previous administration. They want relief. We’ve been in for eight weeks. We are putting the policies in place that will make the affordability crisis go down, inflation moderate and as we set the sails, I am confident that the American people will come our way even as some of the media narrative doesn’t.”
Bessent added, “I’ve been in the investment business for 35 years, and I can tell you that corrections are healthy. They’re normal. What’s not healthy is straight up, that you get these euphoric markets. That’s how you get a financial crisis. It would have been much healthier if someone had put the brakes on in ’06, ’07. We wouldn’t have had the problems in ’08. So, I’m not worried about the markets. Over the long term, if we put good tax policy in place, deregulation and energy security, the markets will do great.”
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