Treasury Secretary Scott Bessent made the rounds on Sunday talk shows to clarify the White House’s economic strategy and calm market concerns. This comes after a month of policymaking that many have described as erratic and unpredictable.
On ABC’s This Week, Bessent presented a unique view of the U.S. economy, likening it to a “barbell.” He explained that while the raw materials and financial sectors are thriving, the working class is struggling. This economic divide is something the administration is eager to address.
Bessent highlighted the strengths of the U.S. economy, pointing out that the financial and tech sectors are among the best in the world. Conversely, he acknowledged that many working-class Americans have not shared in this prosperity. He expressed a commitment to finding solutions to help those who have been left behind.
In addition to discussing the economy’s split, Bessent reaffirmed the administration’s dedication to maintaining a strong dollar and a stable bond market. He noted that markets have largely bounced back from disruptions caused by tariffs following what he referred to as “Liberation Day.”
Bessent’s comments aim to reassure both the public and investors that the administration is focused on fostering growth and addressing economic inequalities.