Treasury Secretary Scott Bessent is set to appear before the House Appropriations Committee Tuesday morning.
Recently, President Trump has shifted his perspective on the economy, suggesting that Americans might need to limit purchases and possibly pay more amidst an uncertain economic landscape. When questioned about a potential recession earlier this month, he remarked, “anything could happen.”
Bessent’s comments followed a 0.3% decline in the US gross domestic product (GDP) in the first quarter of 2025. He offered a defense of Trump during the ongoing market instability and trade disputes, referring to it as an “economic rebalance.”
The president announced a temporary suspension of most mutual tariffs for 90 days, although the foundational 10% tariffs on nearly all foreign imports remain unchanged.
The hearing is scheduled to start at 10 a.m.
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