On this week’s broadcast of Fox News Channel’s “Sunday Morning Futures,” Treasury Secretary Scott Bessent said the Dow Jones Industrial Average hitting the 50,000 milestone was “telling you that Main Street is about to prosper.”
Bessent said, “The Trump economy is delivering for the American people that we have strong growth and inflation is, in fact, coming down for the past three months. Inflation is 2.1% close to the Federal Reserve’s target and a measure called Truflation, which is daily observations, now is below 1%. So inflation down, stocks strong growth stocks hit a record high and the lowest crime rate in over 100 years.”
He added, “What I can tell you is what we are seeing the cyclical components of the market expand so that’s why the Dow hit a new high. But importantly the Russell which is the small cap index has hit a new high. We’re seeing the industrial sectors under the market hit new highs. And in my 35 to 40 years on Wall Street, that tells me Wall Street is telling you that Main Street is about to prosper. We are seeing a big cyclical recovery. The president’s agenda set the table in 2025 and now the American people are going to benefit in 26. And that’s what the stock market is telling us. Stock market moves in the future. And I think we’re going to have very strong economic growth and very strong job gains and very strong real income growth.”
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