Treasury Sec. Scott Bessent says there are ‘no guarantees’ there won’t be a recession

New York Post - Mar 16th, 2025

Treasury Secretary Scott Bessent stated that while there is no guarantee against a recession in the US, he rules out the possibility of a financial crisis. Speaking on NBC’s “Meet the Press,” Bessent addressed the recent sharp decline in US stock markets, attributing it to uncertainties stemming from President Trump's inconsistent policies, including tariff threats. He emphasized the need for robust and durable policies to transition the economy away from massive government spending. Bessent reassured that an economic adjustment does not necessarily lead to a recession, suggesting that with proper tax policy, deregulation, and energy security, markets can recover and thrive.

The context of Bessent's comments highlights the economic challenges and uncertainties faced by the US, particularly under President Trump's administration. The mention of COVID-19 as an unpredictable event underscores the inherent uncertainties in economic forecasting. Bessent's remarks on the necessity of transitioning away from heavy government spending and focusing on sustainable economic policies suggest a long-term approach to economic health. This story reflects broader themes of economic stability, policy impact, and market confidence, illustrating the delicate balance policymakers must maintain to avoid economic downturns while fostering growth.

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RATING

6.6

Fair Story

Consider it well-founded

The article effectively presents Treasury Secretary Scott Bessent's views on the potential for a recession and the government's economic policies, providing clear and timely information. However, it would benefit from greater balance and transparency by including diverse perspectives and substantiating claims with data or expert analysis. The article is readable and addresses topics of public interest, but its impact and engagement potential are limited by the lack of comprehensive coverage and critical viewpoints. Overall, it serves as a useful overview of current economic discussions but could be strengthened by more in-depth reporting and analysis.

Accuracy

The story accurately conveys the statements made by Treasury Secretary Scott Bessent regarding the potential for a recession and the absence of a financial crisis, as supported by direct quotes attributed to him. However, the article's claim about stock market declines due to President Trump's shifting policies, including tariffs, requires further verification. While it is true that market volatility can be influenced by political decisions, the article does not provide specific data or expert analysis to substantiate this claim. Furthermore, Bessent's assertion that market corrections are healthy and that robust policies are being implemented is presented without additional evidence or context, which could affect the overall accuracy of the report.

Balance

The article primarily presents the perspective of Scott Bessent, offering limited viewpoints from other experts or stakeholders. While the inclusion of Bessent's comments provides insight into the government's stance, the lack of alternative perspectives, such as economic analysts or critics of the administration's policies, results in a somewhat imbalanced narrative. The article could benefit from including viewpoints that either support or challenge Bessent's optimism about avoiding a recession and the effectiveness of the proposed policies.

Clarity

The article is generally clear and well-structured, with a logical flow of information. The language is straightforward, making it accessible to a broad audience. The use of direct quotes from Bessent helps to convey his views effectively. However, the article could improve clarity by providing more context or background information on the economic issues discussed, such as the specific policies mentioned and their potential implications. This would help readers better understand the complexities of the situation.

Source quality

The primary source of information in the article is an interview with Treasury Secretary Scott Bessent on a reputable platform, NBC's 'Meet the Press.' This lends credibility to the statements attributed to him. However, the article does not reference any additional sources or data to substantiate claims about market trends or the impact of President Trump's policies, which could enhance the overall reliability and depth of the report. Including insights from economic experts or financial analysts would improve the article's source quality.

Transparency

The article provides limited transparency regarding the basis of its claims, particularly those related to economic trends and policy impacts. While Bessent's quotes are clearly attributed, the article lacks detailed explanations or data to support assertions about market volatility and the potential for a recession. The absence of methodological details or context for these claims reduces the transparency of the report. Greater transparency could be achieved by outlining the sources of information and providing more context or background on the economic situation discussed.