Treasury Secretary Scott Bessent reassured that fears of a recession are overblown, emphasizing a long-term economic strategy amid market volatility caused by President Trump's tariffs. Despite significant market declines, with over $6 trillion lost in stock valuations, Bessent expressed confidence in the administration's approach, suggesting that the president's tariff strategy provides him with substantial leverage. He noted that market reactions are unpredictable but stressed the importance of focusing on sustained economic growth rather than short-term fluctuations.
We're building the long term.
The president has created maximum leverage for himself.
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