Treasury Secretary's comments on recession and President Trump's budget bill
Treasury Secretary Scott Bessent believes there is no reason for markets to be concerned about a recession despite rising chances due to tariffs. He is confident in passing President Trump's budget bill before August recess.
Key Points
- Jobs number on Friday was above expectations
- Confidence in passing President Trump's budget bill before August recess
- Underreported story of progress in D.C. on budget bill
Pros
- Jobs number on Friday exceeded expectations, indicating progress
- Efforts to pass President Trump's budget bill are moving quickly
Cons
- Rising chances of a recession due to tariffs