US Economy More Fragile than Metrics Suggest, Treasury Secretary Warns
WASHINGTON - US Treasury Secretary Scott Bessent raised concerns that the US economy is more vulnerable than economic data indicates. In a speech, Bessent highlighted interest rate volatility, persistent inflation, and government-driven job growth as factors contributing to the economy's fragility.
Criticizing the previous administration's policies, Bessent cited excessive government spending and overregulation as detrimental to economic stability. He pledged a significant shift in approach under the current administration, emphasizing the need for fiscal discipline and deregulation.
"The previous administration's reliance on government spending and over-regulation has left us with an economy that may have appeared sound on paper, but was ultimately brittle underneath," Bessent said.