Finance Minister Scott Bessent, a former hedge fund manager, said that he was not worried about the recent downturn that has wiped trillion from the stock market while the United States is trying to redesign its economic policy.
“I’ve been in the investment business for 35 years and I can tell you that corrections are healthy, they are normal,” said Bessent on Sunday at NBCSMeet the press. “I’m not worried about the markets. In the long term, when we set up a good tax policy, the markets will be great that deregulation and energy supply security. “
TheSell -offThis led the S&P 500 index in a correction in the past week, since investors concern concerns about the economic effects of the movements of the Trump administration in relation to tariffs, immigration and cuts by the Federal Government. Losses in stock markets have deepened by growing growth problems and the acidification consumersFeeling.
“We use the guidelines that sink the affordability crisis, the inflation moderately and when we set the sails, I am confident that the American people will come up to us,” said Bessent, who headed the key square group before it was followed by the administration.
With President Donald Trump’s tariff policy, consumers in the entire political spectrum are increasingly concerned that the additional tasks will lead to higher costs. The global tariffs are now available on steel and aluminum, and there is a deadline on April 2 for even wider taxes.
Read more:Here is an ongoing record of Trump’s tariff threats and actions
While inflation had cooled in the past month, the continued collection of price pressure led the households to restrict discretion purchases.
In the interview, Bessent said that the American dream was not away from buying cheap goods from China. Instead, families want to afford a home and see that their children do better than them.
“They are mortgages, they are cars, they are real wage gains,” he said.
The Federal Reserve officers should meet this week as questions about the establishment of the US economy. Chairman Jerome PowellemphasizedAt the beginning of this month, the central bank does not have to be in a hurry to reduce the tariffs, but it is likely to be pushed for the uncertainty and the risks that occur.
This story was originally on Fortune.com