With the stock market tumbling, many Americans are worried about our nation’s economy. Treasury Secretary Scott Bessent, however, says “corrections are healthy” and that the Trump administration is working to stave of a “financial crisis.”

From The Epoch Times. Treasury Secretary Scott Bessent said on Sunday that policies initiated by the Trump administration are designed to head off a financial crisis that may be the result of major government spending over the past several years but cautioned there are “no guarantees” that no recession will occur.

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There have been concerns that recent policies, such as tariffs, could lead to a financial crisis or a recession. When asked by an NBC News reporter about a recession occurring, Bessent said that the Trump administration is working to prevent a more serious crisis and that there is no reason for a recession to occur.

“There’s no reason that it has to. But I can tell you that if we’d kept on this track, what I could guarantee is we would have had a financial crisis. I’ve studied it. I’ve taught it. And if we had kept up at these spending levels, that everything was unsustainable,” Bessent said. “We are resetting and we are putting things on a sustainable path.” …

In the past several weeks, U.S. stock indexes such as the Dow Jones Industrial Average and Nasdaq have seen decreases. In the past 30 days, the Dow has dropped by about 6.4 percent, down by more than 2,800 points, while the Nasdaq has dropped by more than 10 percent, down by more than 2,000 points.

When asked by NBC about the stock market’s drop and whether he’s worried, Bessent described what’s happening with the markets as “corrections,” which are “healthy.”

“I’ve been in the investment business for 35 years. And I can tell you that corrections are healthy. They’re normal,” he said. …

Responding to a question about whether a recession may occur, Bessent said that “there are no guarantees” …

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(Excerpt from The Epoch Times. Photo Credit: Andrew Harnik/Getty Images)