On March 17th, following President Trump's refusal to guarantee that the US economy will not experience negative growth over the weekend, the US Treasury Secretary also said in an interview on Sunday (16th) that there is no guarantee that the US economy will not fall into recession. However, in an NBC interview, Bescent ruled out the possibility of a financial crisis. When asked if he could guarantee that there will be no recession during Trump's administration, Bescent replied: "There is no guarantee. (Like) who could have predicted the COVID-19 pandemic?" Bescent said he was pursuing sound policies that would last, saying the country needed to gradually move away from what he called massive government spending. When asked if the adjustment would lead to a recession, Bescent said: "There is no reason why it has to be." Bescent dismissed concerns about the recent decline in U.S. stocks, saying the correction in the stock market is healthy and that if the government implements good tax policy, deregulation, and energy security, the market "will be in good shape."