Treasury Secretary Scott Bessent emphasized that President Donald Trump’s agenda prioritizes Main Street businesses and consumers, despite potential economic risks from new tariffs. “For the last four decades, Wall Street has grown wealthier than ever before, and it can continue to grow and do well,” Bessent stated at the American Bankers Association’s Washington Summit. However, the next four years will focus on Main Street’s growth, encouraging hiring and investment. Although stock market declines have occurred due to recent tariffs, Main Street’s involvement in the market has increased through retirement accounts. Bessent, a former hedge fund professional, advocates for de-leveraging the government sector while re-leveraging the private sector to avoid recession.
— new from CNBC
