Bessent Claims Panic Over Trump's Economy Management Is Media-Driven

Treasury Secretary Scott Bessent pushed back on polling data indicating the public does not approve of President Donald Trump’s handling of the economy , indicating worries about the matter are "driven by the media."

Bessent's evaluation precedes Trump's action. 100th day in office Since coming back to the White House, the stock market experienced significant fluctuations this month due to the president’s implementation of tariffs. However, Bessent highlighted that most attention has centered around instances where the stock market declines, with relatively little coverage dedicated to its subsequent rebound.

"When I observe certain publications, there was an article 10 days ago stating, 'This is the worst April for the stock market since the Great Depression,' " Bessent remarked on ABC News’s This Week. “Just ten days after that report, the Nasdaq ended up rising during April, yet I didn’t come across any stories claiming, 'Stock market experiences strongest recovery ever.’ Hence, I believe much of this narrative is fueled by the media.”

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Bessent went on to outline how Trump imposed substantial tariffs. tariffs Before halting these measures to engage in talks with nations, they described it as a reward-and-penalty strategy aimed at getting those countries to eliminate their tariffs on goods from the United States. Following this, the Treasury Secretary expressed his surprise over how long the U.S. permitted what he deemed an "unequitable" trade framework to persist. He placed blame primarily on the Biden administration for tolerating such conditions instead of addressing them directly with the partner countries involved in these agreements.

Bessent also countered concerns about an impending recession due to Trump’s tariff policies, stating that individuals' spending habits have "changed significantly." Additionally, he emphasized his preference for observing people's actions rather than their poll responses when gauging economic behaviors.