Trump’s Top Economic Advisor Rebuffs Recession Fears | Global News Avenue

Treasury Secretary Scott Bessent delayed the recession on Thursday, saying President Donald Trump’s administration wants a “smooth transition” to an economy with reduced government spending.

During a performance on CNBC’s “Speak Up on the Street” on Thursday, Bessent said the Trump administration’s goal is to reduce government spending without having to put the economy into recession. Last week, Bessent’s romantic financial markets by warning the economy will have a The “detoxification” period of high government spending As Trump quickly cuts the federal budget. Trump said earlier this week that the economy will have a period of timetransition. ”

A reporter asked Bessent if “detox” was an euphemism of recession.

“Not at all. It’s not necessarily because it depends on how fast the baton is,” Bessent said. “Our goal is to make a smooth transition.”

Last week, several major forecasts increased the chances of a recession as Trump threatened to impose widespread tariffs and mass layoffs on federal workers, which helped to intensify general uncertainty about future federal policies. Trump is in an out-of-time place Tariff threat have Uncertainty,,,,, Breaks confidence Among business leaders and consumers, Sent stocksand Propose fear of possible Economic downturn and unemployment.