Bessent appeared on NBC News’s Meet the Press Sunday after a six-week slump in the S&P 500. The stock market closed on Friday with a 10.5% drop, which is the lowest point since April 2024, as many anticipated the impending 10% baseline tariff against 86 countries that began Saturday. Bessent also pointed out that Friday was a day that saw “record volume.”
“I reject that the assumption — there doesn’t have to be a recession. Who knows how the market is going to react in a day, in a week? What we’re 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,” Bessent said.
Host Kristen Welker asked the secretary about President
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