United States: Treasury secretary acknowledges potential recession in certain economic sectors

United States Treasury secretary Scott Bessent acknowledged this Sunday that certain sectors of the US economy could enter a recession. Bessent stated that the real estate market in particular, whose contraction will always have a more severe impact on lower-income citizens. The official attributed the current problems to the central bank's monetary policies, stating that the Federal Reserve has caused many distribution problems with its policies, removing the Treasury Department from possible responsibility for the recession. Bessent noted that a reduction in the key rate by the Federal Reserve could ease the pressure on the real estate market, while questioning whether this reduction would benefit regular people, property owners, or real estate businesses.

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