Following the worst result in Wall Street since the early days of the Covid-19-Pandemic, said the Secretary of American Finance Ministry Scott Bessent Wall Street has a history of underestimating President Donald Trump, whose customs policy increases the fear that the economy will suddenly begin to a recession.
Scott Bessent minimized the case of measures as a short -term reaction. In an interview with NBC’s “Meet the Press”, which was broadcast on Sunday (6), he also gave no indication that President Donald Trump will withdraw from these aggressive tariffs and dismissed the recession.
Like 2016
“Everything works very well, so the American people can be very comfortable with it,” Bessent told NBC. On Friday, Dow Jones Industrial Averag fell 5.5%and lost 2,231 points, the S&P 500 fell 6%and Nasdaq, 5.8%.
Bessent said that “we have these short -term market reactions from time to time” and added that Wall Street has consistently underestimated Trump, pointing to a first decline in the measures after he unexpectedly won the 2016 election.
“And it turned out that he would be the most negotiating president for over a century, perhaps in the country’s history. And we had very high returns after inflation over the next four years,” Bessent said.