Bessent: The US Economy Will Go Into “Detox Period”

The Hill reports:

Treasury Secretary Scott Bessent said Friday the United States economy has become increasingly reliant on excessive government spending. “The market and the economy have become hooked, become addicted, to excessive government spending, and there’s going to be a detox period,” Bessent said on CNBC’s “Squawk Box.”

Bessent added there will be a “natural adjustment” as the Trump administration seeks to move the country toward private spending. When asked by the host how long this economic uncertainty will last, the secretary said, “I am confident, if we have the right policies, it will be a very smooth transition.”

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