Register for the daily e-mail of Washington for an exclusive coverage and analysis of the United States sent to your reception box
Receive our free email inside Washington
Receive our free email inside Washington
Donald Trump’s new Treasury Secretary has exploded the apparent slowdown in the country’s economy as nothing more than “detoxification” when public spending is going to the private sector.
Secretary Scott Bessent recognized the apparent signs of an economy slowed after a week’s drop in the stock market shaken by Donald Trump prices and a report less than 151,000 new jobs in February (170,000 were planned).
“Could we see that this economy we inherited starts to roll a little? Of course,” said Bessent in an interview on Friday CNBC Squawk box.
“The market and the economy have become addicted, which has become dependent, with excessive public spending, and there will be a period of detoxification,” said Bessent.
He insisted that it would be a “natural adjustment” because the Trump administration repels the nation “far from public spending at private expenses”, ”
Bessent has not detailed how spending on advantages such as Social Security or many other public services could be passed to the private sector, because they would not be profitable for a company to take them back.
It is possible that he would refer to spending less for public employees in jobs that have been reduced to thousands by the thousands by the Elon Musk government’s Department of Elon Musk and rather paying private companies to do the work.
Musk himself fisher with a federal contract of $ 2.4 billion for his company SpaceX in order to revise the Federal Aviation Administration.
A SpaceX engineer who also volunteers for Doge threatened the FAA employees with dismissal If they pretend to work the FAA already done by the private sector business to the agency, which could lead to a lucrative federal contract, Bloomberg reported this week.
Bessente defended Trump’s prices to the fight against the Trump market. He said it was an increase in “punctual” prices and said they would not call for inflation.
The prices on imported goods are paid by companies like Target which generally transmit price increases to American consumers. Price increases are paid as long as prices exist.
