U.S. Treasury Secretary Scott Bessent said there are "no guarantees" when asked during a Sunday interview whether he could "guarantee" the American public that the country will not see a recession during President Donald Trump 's term. Newsweek reached out to the Treasury Department's press office for comment on Sunday.

U.S. stock markets closed down sharply last week amid mounting uncertainties arising from President Donald Trump's frequently shifting policies, including tariff threats against the biggest U.S. trading partners.