As voters returned Donald Trump to the White House in November, many had the economy top of mind. Candidate Trump vowed to bring down prices right away and foresaw boom times for the market. That’s not the case nearly two months into the administration,

Key Takeaways Treasury Secretary Scott Bessent said the administration's goal was to have a "smooth transition" to an economy with less federal spending.Last week, Bessent stoked fears of a recession by warning of a period of "detox" from high government spending as Trump slashed programs and workers.