Treasury Secretary Scott Bessent isn’t losing sleep over Wall Street’s turbulence.
Speaking on CNBC’s Squawk on the Street Thursday, he reinforced the administration’s focus on the broader economy, brushing off short-term volatility as an inevitable side effect of policy shifts.
“We’re focused on the real economy. Can we create an environment where there are long-term gains in the market and long-term gains for the American people?” Bessent said.
“I’m not concerned about a little bit of volatility over three weeks.”
Markets, however, tell a different story. Stocks have been on a rollercoaster, rattled by President Donald Trump’s escalating trade skirmishes with Canada, Mexico, and China.
The Dow Jones Industrial Average has shed more than 7% in the past month, teetering on correction territory.
Bessent remains unfazed, predicting that both the real economy and markets will prosper over time.
“The reason stocks are a safe and great investment is because you’re looking over the long term. If you start looking at micro horizons, stocks become very risky,” he said.
“If we put proper policies in place, it’s going to lay the groundwork for real income gains, job creation, and continued asset growth.”
As Bessent spoke, stocks wavered between gains and losses in morning trading.
Meanwhile, fresh economic data provided a glimmer of stability. The Bureau of Labor Statistics reported that wholesale inflation was flat in February, undercutting Wall Street’s expectations of a 0.3% rise.
A separate report the day before showed consumer prices edging lower, a welcome reprieve from inflation fears stoked by Trump’s tariff offensive.
“Maybe inflation is getting under control and the market is going to have some confidence in that,” Bessent added, hinting at a more tempered outlook amid economic crosswinds.
For business leaders, the bigger question remains whether long-term economic fundamentals can outweigh short-term disruptions.
While markets react to daily headlines, the administration is betting that steady policies will fuel lasting growth.
You May Also Like: Treasury Yields Dip as Economic Data Disappoints
