Treasury Secretary Scott Bessent said Thursday that the Trump administration is more focused on long-term health of the economy and markets than on short-term marching.
“We focus on the real economy. Can we create an environment where there are long-term gains in the market and bring long-term gains to the American people?” Bessent at CNBC’ssqu. “I don’t care about the volatility of three weeks. ”
These comments are in a state of turmoil with the market. Donald TrumpTariffs are almost daily on major U.S. trading partners such as Canada, Mexico and China. The main average has shifted toward corrective areas Dow Jones Industrial Average Over 7% of the loss in the past month.
Although Bessent said the government was paying attention to market shifts, he predicted that both the actual economy and the market would flourish over time.
“The reason why stocks are a safe and huge investment is that you look at the long term. If you start looking at the micro horizon, then stocks become very risky. So we focus on the medium-term, long-term,” he said in an interview with CNBC’s Sara Eisen. “I can tell you that if we have the right policies, it will lay the foundation for the income from real income and the gains of work and the continued gains of assets.”
Stocks fluctuated again in the morning trade, even if bessent spoke, the average was the same.
In the early hours of the morning, the Bureau of Labor Statistics reported that wholesale inflation remained flat in February, well below Wall Street’s expectations of a 0.3% increase. In a report Wednesday, this suggests that consumers’ price rates have also been lowered, providing some welcome news amid concerns that Trump tariffs will exacerbate inflation.
“Perhaps inflation is under control and the market will be confident about it,” Bessent said.
