Finance Minister Scott Bessent spoke with CNBC on March 13, 2025.
CNBC
Treasury Secretary Scott Bessent said on Sunday that the Trump administration is committed to preventing the financial crisis, which could be the result of government spending in the past few years.
“What I can guarantee is that we’ll have a financial crisis. I’ve looked at it, and I’ve taught it if we stay unsustainable at these levels of spending — everything is unsustainable,” Bessent said in NBC’s “Meeting Media.” “We’re resetting, we’re putting things on a sustainable path.”
president Donald Trump Since taking office, the government’s fiscal housing has been a priority. He created the so-called Ministry of Government Efficiency, Elon Muskto cut work and implement early retirement incentives in multiple federal agencies.
Nevertheless, U.S. debt and deficit problems are worsening In Trump’s first month of office, with a budget shortage of more than $1 trillion in February.
Bessent noted that there is no guarantee that there will be no recession.
Until Trump’s market, the market has been turbulent Extensive tariffs This has raised concerns about inflation and a slowdown. When Thursday’s 500 index rose to a 10% correction rate from its high in February.
Bessent believes that like the current market retreat, Trump’s pro-business policies will promote the market and the economy in the long run.
“I’ve been in the investment business for 35 years and I can tell you that the correct ones are healthy. They are normal,” he said. “The unhealthy things are straightforward, you get these happy markets. That’s how your financial crisis is. If someone stepped on the brakes on June 7, 2006, it would be healthier. We didn’t have any problems in 2008.”
“I’m not worried about the market. In the long run, if we have good tax policies, deregulation and energy security, the market will do a good job,” Bessent added. “I said a week is not market.”
