Treasury Secretary Bessent says the economy could be ‘start to roll a little’

Scott Beasent Treasury Secretary recognized some signs of weakness in the American economy.

“Can we see that this economy we inherited began to roll a little? Of course. And look, there will be natural adjustment as we leave public spending for private spending,” Bessent said at CNBC. “Box. “

“The market and the economy have just become hooked. We have become dependent on this state consumption, and there will be a detox of the period,” he added.

Describing the economy as inherited references is to the administration under then President Joe Biden. Current President Donald Trump assumed his duty on January 20th.

Under the bidet, they have now seen a generally strong economic growth. However, there were signs of slowdown at the end of 2024, and the inflation remained above the goal with 2% federal reserves.

In the first few months, Trump’s administration has taken steps to reshape global trade policies and reduce federal labor. There were not many difficult economic data that reflect Trump’s term, although the consumer research showed reject confidence.

The February Affairs Report was published after Besent’s comments and proved to be unemployment that is indicated up to 4.1% from 4.0%. The economy added 151,000 jobs during the month, below 170,000 that economists were projecting, according to Dow Jones.

One area where Trump policy can quickly feel tariffs. The president hit Canada, Mexico and China with tariffs in power in the first two months, although the efforts in Canada and Mexico now have Long list exemptions. The administration plans to carry out wider tariffs in April.

“Tariffs are a one -off price adjustment,” Bessent said, pushing against the idea that the tariffs would encourage continuous inflation.

Bessent also said that the administration “does not get a lot of loans” for areas where costs have fallen from Trump’s inauguration, such as oil and mortgage rates.