Treasury Secretary Bessent concedes some parts of the economy are already ‘in recession’

[Cypress]

Treasury’s Bessent concedes some parts of the economy are already ‘in recession’​

According to Trump’s treasury secretary, the economy isn’t just struggling in some areas — some “sectors” are actually contracting.

Redirect Notice

 

[Noking]

Treasury’s Bessent concedes some parts of the economy are already ‘in recession’​

According to Trump’s treasury secretary, the economy isn’t just struggling in some areas — some “sectors” are actually contracting.

Redirect Notice

Not surprising with a crazy man at the helm of our country.

 

[Diogenes]

Yesterday, November 3, during an interview on CNN's State of the Union with Jake Tapper, Treasury Secretary Scott Bessent stated that "there are sectors of the economy that are in recession," specifically citing the housing market as an example due to high interest rates from Federal Reserve policies. He described the overall economy as being in a "transition period" but urged further rate cuts to prevent broader contraction.

 

[Phantasmal]

Treasury’s Bessent concedes some parts of the economy are already ‘in recession’​

According to Trump’s treasury secretary, the economy isn’t just struggling in some areas — some “sectors” are actually contracting.

Redirect Notice

I bet he got spanked after that admission.

 

[Cypress]

I bet he got spanked after that admission.

Trump gutted all the economic data gathering agencies, so we're probably flying blind to some extent

 

[evince]

Other entities can track the numbers


Trump hasn’t tried to make that illegal yet

 

[Dutch Uncle]

Treasury’s Bessent concedes some parts of the economy are already ‘in recession’​

According to Trump’s treasury secretary, the economy isn’t just struggling in some areas — some “sectors” are actually contracting.

Redirect Notice

Is Trump lying about it yet? "We have the greatest economy ever! Much better than Bidens"? LOL

 

[Dutch Uncle]

Trump gutted all the economic data gathering agencies, so we're probably flying blind to some extent

Which may help explain the recession: Investors don't want to invest if they don't have data for planning.

 

[evince]

And no idea when new tariffs will appear out of no where

 

[evince]

Republican always taint the economy

The people are beginning to see the pattern

 

[cawacko]

I don’t usually get my economic news from Rachel Maddow, but here’s the Reuters article reporting what Bessent said:

Bessent says high US interest rates may have caused housing recession​

Bessent says high US interest rates may have caused housing recession

Parts of the U.S. economy, particularly housing, may already be in recession because of high interest rates, U.S. Treasury Secretary Scott Bessent said Sunday, repeating his call for the Federal Reserve to accelerate rate cuts.

www.reuters.com

The economy doesn't move as one. My industry (CRE) went into recession from 2022 through 2024 even though the broader economy officially didn’t.

 

[evince]

Remember how all the right wing clowns here pretended the economy was great right up until it crashed in 2008 due to their deregulations

 

[Cypress]

Which may help explain the recession: Investors don't want to invest if they don't have data for planning.

I'm sure TrumpCo. will discover some way to blame Biden or the Fed.

 

[cawacko]

Besides housing, manufacturing was the other sector he was talking about. Manufacturing was already in a recession under Biden and these additional dumb *ss tariffs aren't helping us get out of it.

 

[Dutch Uncle]

I'm sure TrumpCo. will discover some way to blame Biden or the Fed.

It'd be typical of them to shed all responsibility and always blame those they oppose.

What a bunch of pussies MAGAts have proved to be. They talk tough but I expect most will die whimpering cowards.
Those that see it coming, that is. Sad.