U.S. Treasury Secretary Addresses Economic Concerns Amid Recession Fears

According to PANews, U.S. Treasury Secretary Besent expressed concerns about the possibility of an economic recession during an interview on Sunday, March 16, 2025. This follows U.S. President Donald Trump's recent refusal to guarantee that the U.S. economy will not experience negative growth. Besent, speaking on NBC, dismissed the likelihood of a financial crisis but acknowledged the uncertainty surrounding economic predictions, citing the unforeseen COVID-19 pandemic as an example. Besent emphasized the implementation of sustainable and robust policies, advocating for a gradual reduction in what he described as excessive government spending. When questioned about whether these adjustments could lead to a recession, Besent stated there was no necessity for such an outcome. Addressing concerns over recent declines in the U.S. stock market, Besent described the market correction as healthy. He suggested that with effective tax policies, deregulation, and energy security, the market's condition would improve.