Treasury Secretary Scott Bessent says he’s ‘not worried at all’ despite stock market sell-off amid tariff threats

Treasury Secretary Scott Bessent remained calm and confident despite the stock market's recent struggles. During an appearance on NBC News' "Meet the Press," he reassured the public that the current market corrections are normal and even healthy. Drawing from his 35 years of experience in the investment industry, Bessent argued that sharp market rises are often unsustainable and can lead to financial crises. He made it clear that, in his view, the markets are not an immediate concern, as long-term policies supporting tax reform, deregulation, and energy security are in place. "Corrections are normal. What’s not healthy is straight up," he said, referencing the risk of euphoric market bubbles.

Despite the significant drop in major stock indexes, which has been attributed to President Trump’s tariff threats, Bessent expressed little concern for future market performance. As Trump’s administration implements reciprocal tariffs starting April 2, Bessent is optimistic that once these policies are in place, markets will stabilize and grow.


Under President Trump’s leadership, the United States has seen a rise in tariffs against major trading partners, including Canada, Mexico, and the European Union. These tariff threats have sparked volatility in stock markets, with the S&P 500 losing approximately $5 trillion in value over the course of just a few weeks. In his interview, Bessent acknowledged the fluctuations but reaffirmed his belief that the long-term outlook remains positive, thanks to fundamental policies focusing on deregulation and energy security.

Bessent also addressed the impending "reciprocal" tariffs that will begin in April, stressing that the strategy is designed to make trade "fairer." He argued that if other countries respond by lowering their own tariffs, the U.S. could see increased exports. However, if countries do not comply, the U.S. will still benefit from substantial tariff revenues, providing a cushion for the domestic economy.


While Bessent expressed confidence in the economy, he did not dismiss the possibility of a recession altogether. When asked about the risk of a downturn, Bessent noted that "there are no guarantees" and referenced the unpredictability of events like the COVID-19 pandemic. He indicated that while the country’s policies are robust, there could still be “adjustments” needed, particularly as the U.S. moves away from “massive government spending.”

His comments align with a more cautious tone that President Trump has struck in recent weeks. While the president has maintained that his tariff policies will ultimately "make America great again," he has also acknowledged that the economy might experience some level of “disturbance.” Despite this, Trump has largely remained optimistic, insisting that the market sell-off does not concern him and reaffirming his belief that the nation will ultimately prosper from the changes he has implemented.


In addition to discussing the stock market and tariffs, Bessent also touched on recent federal workforce reductions under the Trump administration. He addressed the significant cuts made at the IRS, which included the firing of thousands of probationary employees. Although the administration initially let go of about 15,000 probationary workers, Bessent revealed that they retained a portion of those employees, particularly those deemed essential to the mission. However, following a court ruling, two federal judges ordered the temporary reinstatement of many of the fired workers.

Bessent’s remarks reflect ongoing tensions between the administration’s efforts to streamline government functions and the legal challenges that have arisen from these moves. Despite the challenges, Bessent remains confident that the policy shifts will ultimately benefit the economy and taxpayers, with a focus on efficiency and cost-saving measures at federal agencies like the IRS.