US Secretary of Treasury Scott Bessent calls normal corrections, suggesting a higher pain threshold for ‘Trump Put’
On Sunday, US Secretary of Treasury Scott Bestent described the corrections in the property market as healthy, suggesting a greater pain tolerance before the expected policy support or the so-called ‘Trump that is placed “for the market, is conducted.
“I’ve been investing for 35 years, and I can tell you that the corrections are healthy, they’re normal,” Bessent Sunday told NBC’s meet the press, According to Bloomberg. “I don’t care about the markets. In the long run, if we put good tax policy in place, deregulation and energy security, the markets are great. “
Bescent’s comment contradicts the popular belief that the Trump administration quickly destroyed any fire that came from the administration policy transfers, especially trade tariffs. President Donald Trump recently clarified his stance, saying He didn’t look In the stock market.
Wall Street’s tech-heavy index, Nasdaq, and the S&P 500 entered the correction last week, which dropped more than 10% from their February highs majority with concerns that Trump’s tariffs could slow economic growth while leading to adhesive inflation.
Bitcoin (BTC), also took a beating, down by almost 25% from high records of over $ 109K in January, According to CoinDesk’s data indices.
The risk-off has changed the expectations of policy support from the government or the federal reserve (FED), especially in the crypto community.
However, Bescent’s suggests that it may take longer to show or require more significant decline in the market before taking any action. Treasury secretary said last month that the Trump administration was focused on lowering the yield on Treasury’s 10-year-old record, which influenced most long-term economic loans.
Meanwhile, feed chair Jerome Powell and his colleagues emphasized Early this month they watched to see the “net effects” of Trump’s policies in the economy and were not in a hurry to cure rates.
Officials will meet for a rate review this week, with the decision due to Wednesday.
