US Treasury Secretary does not rule out recession probability

In a recent interview with NBC, Treasury Secretary Scott Bessent commented on new US President Donald Trump's policies and outlined the country's economic outlook. From his point of view, the probability of the United States slipping into a recession cannot be completely ruled out. However, the government will do its best to avoid a financial crisis.

Earlier, Trump called the current state of the US economy a “transition period”. Yet, the President's inconsistent decisions on imposing import tariffs against the country's key trading partners are a source of great concern for investors. Last week, the American stock market suffered great losses due to this turmoil, Reuters reported.

However, in his interview with NBC, Bessent emphasized that he sees no reason to panic. He said that the indicators' volatility reflects a healthy correction within the normal range. The US stock market will recover after the revision of the country's tax policy and ensuring its energy security, the minister said.