From CNBC: 2025-04-09 09:45:00

Treasury Secretary Scott Bessent emphasized President Trump’s focus on Main Street prosperity despite recession concerns from steep tariffs. The stock market saw a significant drop, nearing bear territory. Bessent supports Trump’s economic agenda for Main Street revitalization, aiming to prevent a recession by maintaining tax cuts and other policies.

Bessent, a former hedge fund manager, advocates for private sector growth through tax cuts and deregulation. He warns against sudden changes that could lead to a recession. Recession fears are mounting as trade war uncertainty continues. JPMorgan Chase CEO Jamie Dimon predicts a recession due to escalating trade tensions.

Read more: Bessent says ‘Main Street’s turn’ after Wall Street wealth grew for 4 decades