Trump’s Treasury Secretary Declares Stock Market Plunge ‘Healthy’ Amid $5 Trillion Loss

In a surprising declaration amidst the chaos of the U.S. stock market experiencing a staggering $5 trillion drop in just three weeks, Treasury Secretary Scott Bessent defended the turbulence, labeling it as "healthy" and "normal." This downturn has been sparked by looming tariffs proposed by the Trump administration and escalating inflation fears, raising significant concern among everyday American investors.

During his appearance on NBC’s *Meet the Press*, Bessent, a multimillionaire and former hedge fund chief, asserted that he remains unfazed by the current market conditions. "I'm not worried about the markets," he stated. "Over the long term, with sound tax policy, deregulation, and energy security in place, the markets will thrive."

When pressed by moderator Kristen Welker about the market's poor performance—recording its worst week in two years—Bessent dismissed the notion that he should be alarmed. "Not at all," he replied, emphasizing that market corrections are vital in maintaining economic health.

Hearing concerns about a potential recession, Bessent acknowledged that while predictions aren't absolute, there's a belief that robust policies will prevail. “There are no guarantees,” he admitted, “but we are implementing policies that will be sustainable.”

The Treasury Secretary also stirred controversy with his comments regarding rising consumer prices, notably saying, "Access to cheap goods is not the essence of the American dream." Welker questioned whether Bessent's perspective suggests the administration is comfortable with consumers paying higher prices for goods. "The American dream is not contingent on cheap bobbles they get from China," he clarified, attempting to shift focus from materialism to a broader vision of success and stability.

Despite these assurances, public sentiment towards Trump's economic management appears to be waning. An NBC News poll revealed that 54 percent of voters disapprove of the President's handling of economic issues, with similar disapproval regarding inflation and the cost of living. This is a stark reversal from earlier polls where Trump enjoyed more favorable views on economic performance.

Bessent, whose net worth exceeds $521 million, including luxurious properties in the Bahamas and North Carolina, is perhaps insulated from the direct impacts of the market's volatility. However, this detachment raises questions about empathy for the average American facing potential job losses and diminished retirement savings if the economy continues to falter.

With rising inflation and market turbulence, will the Trump administration's economic strategies be enough to regain public trust? Only time will tell if Bessent's conviction in a future recovery is shared by the wider populace. The stakes are high as many navigate through uncertainty and anxiety over their financial futures.