Bescent calls the correction healthy because he doesn’t worry about the market

Former hedge fund manager Scott Becent said he is not worried about the recent recession that wiped out trillions of dollars from the stock market as the US is trying to restructure its economic policy.

“I’ve been in the investment business for 35 years and I can say that the corrections are healthy and normal,” Bescent said on NBC Sunday.Meet the press. “I’m not worried about the market. If we implement good tax policies over the long term, if we implement deregulation and energy security, the market will be great.”

saleThis introduced the S&P 500 index in last week’s revision. Among investors’ concerns was concern about the economic impact of the Trump administration’s tariffs, immigration and the federal cuts. Stock market losses have heightened growth concerns and deepened with consumer sournessFeelings.

“We are implementing policies that will ensure that Americans will come our way as we lower the affordability crisis, moderate inflation and set sails.”

As President Donald Trump’s tariff policy expands, consumers across political spheres are increasingly concerned that extra obligations will lead to higher costs. Global tariffs are currently being introduced on steel and aluminum, with the April 2nd deadline being held up due to wider taxation.

read more:This is the running tally of Trump’s tariff threats and actions

Although inflation cooled last month, sustained pick-ups of price pressure risks that households will limit discretionary purchases.

In an interview, Bescent said that America’s dream is not conditional on being able to buy cheap products from China. Instead, families can afford a home and want to see their kids do better than them.

“It’s a mortgage, a car, a real wage increase,” he said.

Federal Reserve officials are scheduled to meet this week as questions about the US economy are being built. Federal Reserve Chairman Jerome PowellEmphasisedThe central bank doesn’t need to hurry up and cut fees earlier this month, but he is likely to see uncertainty and risk.

This story was originally introduced Fortune.com