Commentary
Treasury Secretary Scott Bessent said last Tuesday that the underlying economy is healthy, and there’s no indication of a recession. Specifically, Bessent said, “What I can guarantee you is there is no reason we need to have a recession” since “we’re seeing some very good underlying data.” Bessent said there may be a “pause” as the economy transitions from relying on too much government spending, but the Trump administration is “going to get this spending under control, we’re going to bring manufacturing back home, and we’re going to make the country more affordable.”
