Scott Bessent Warns Countries: “Sit Back And Take It Because If You Retaliate There Will Be An Escalation”

“I say that what we are doing is we’re setting the stage for long-term economic growth, that we were on our way to a financial crisis. I used to teach a history of financial crises. With gigantic government spending, it was unsustainable. You look back in 1998, you look back in ’07. Right before it looked great, everything collapsed. My advice to every country right now is do not retaliate. Sit back, take it in. Let’s see how it goes because if you retaliate, there will be an escalation. If you don’t retaliate, this is the high water mark.” – Treasury Sec. Scott Bessent, speaking to Fox.