US Treasury Secretary Bessent paves the way for a recession – can’t guarantee no recession

US Treasury Secretary Scott Bessent spoke in an interview on Sudnay:

• US Treasury Secretary Bessent welcomes lower stockmarket – says straight up is not healthy

He also made an effort to massage public opinion into accepting a coming recession:

• “There are no guarantees,” Bessent said about the chance of a recession

Bessent is a political appointee. As such, Treasury Secretaries usually spend their time talking up the economy. The switch in tone from Bessent is something to pay attention to – a recession and lower stockmarket would seem to be what he is trying to prepare the public for.

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Goldman Sachs have cut their oil price forecasts on the slowdown they see ahead:

• cuts its December 2025 Brent crude price forecast by USD 5 to USD 71/bbl
• sees WTI at USD 67/bbl

This article was written by Eamonn Sheridan at www.forexlive.com.