Treasury secretary warns U.S. could enter “detox period” | The Excerpt
Plus: President Donald Trump threatens Russia with sanctions. American liquor, wine and spirits pulled from Canadian shelves in response to tariffs.
Treasury Secretary Scott Bessent says the economy may slow as part of a ‘detox’ from government spending
Treasury Secretary Scott Bessent said the U.S. economy may be “starting to roll a bit,” as data suggests last year’s red-hot economy is slowing. Bessent said the Trump administration’s moves to transition the economy to one that emphasizes private spending over public spending may require a “detox” period.
Treasury Secretary Bessent says economy could be ‘starting to roll a little bit'
Describing the economy as inherited is a reference to the administration under then-President Joe Biden. Current President Donald Trump took office on Jan. 20. Under Biden, the U.S. saw generally strong economic growth. However, there were signs of a slowdown in late 2024, and inflation remained above the Federal Reserve's 2% target.
Trump treasury secretary warns of 'detox period' slowdown for US economy
Treasury Secretary Scott Bessent warned the U.S. economy could enter a "detox period" as the administration shifts from robust government spending.
Treasury secretary forecasts ‘detox period’ for US economy
Treasury Secretary Scott Bessent said Friday the United States economy has become increasingly reliant on excessive government spending, adding, “There’s going to be a detox period.” “The
Treasury’s Bessent Defends Tariffs, Warns of a Coming ‘Detox Period’
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Treasury Chief: We May Need 'Detox' on Economy
It's not a word typically applied to the economy, and it may not thrill Wall Street investors. But Treasury Secretary Scott Bessent told CNBC on Friday that the nation's economy may be in need of a "detox.
‘Cheap goods’ aren’t part of the American Dream, Trump’s treasury secretary says
In a recent speech, Scott Bessent threw more cold water on a Trump campaign promise to lower the cost of living.
U.S. Treasury secretary says to brace for economic pain. One economist thinks he’s underselling the fallout.
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