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💭   Bessent Rejects Recession Talk, Calls Market Turmoil "A MAG7 Problem, Not MAGA Problem."

politics

President Trump's "Liberation Day" tariff blitz and the resulting escalation in the trade war with China and other top trading partners fueled a downgrade in growth expectations that dominated the rates market last week. Goldman analysts now expect three interest rate cuts from the Federal Reserve this year—in July, September, and October—and have raised their 12-month U.S. recession probability to 35%, up from 20%. While a pivot toward tariff de-escalation remains plausible in the near term, market turmoil and potential trade disruptions amid the grand global economic reordering won't push the U.S. into a recession, Treasury Secretary Scott Bessent said Sunday.

ZeroHedge Opinion     Apr 06, 2025