United States Treasury Secretary Scott Bessent has stated that there is no reason to price in a recession, despite the recent volatility in financial markets. His comments came amid concerns following a sharp selloff on Wall Street.

“I see no reason that we have to price in a recession,” Bessent said, brushing aside the market’s downturn. He emphasized that oil prices fell by nearly 15% over just two days, noting that such a drop has a more direct impact on working Americans than stock market fluctuations.

Bessent pointed to other economic indicators to support his view. “Interest rates hit their low for the year, so I'm expecting mortgage applications to pick up,” he stated, suggesting that lower borrowing costs could lead to more activity in the housing market.

He also underlined that short-term changes in the market should not be interpreted as signs of long-term economic trouble. “Day-to-day fluctuations in the market do not matter in the long term,” Bessent insisted, signaling confidence in the broader U.S. economic outlook.

His remarks aim to reassure investors and the public that the administration remains confident in economic fundamentals, even as markets experience temporary turbulence.