"Well, the stock market lives in the future, right?" Scott Bessent's answer to American families who can't afford basic necessities? Wait until the future.
"I have one more question for you. When you look at the economy through market returns, it's quite strong, but when many families look at it through groceries, gas, rent, borrowing costs, they feel strained. Which view do you think is more the real view of the economy? The stock market lives in the future. So what the stock market is telling us is they are presumably what I am saying today that we'll get to the other side of this. Prices will come down and then we will be back up to real wage gains. So both can be true. And if someone can't wait until the future? Well again, we are seeing prices come down and we saw an elevated level of prices and we are doing everything we can to get them down."
💬 Discussion
"Well, the stock market lives in the future, right?" Scott Bessent's answer to American families who can't afford basic necessities? Wait until the future.