Treasury Secretary Scott Bessent made an appearance on ABC’s This Week with Martha Raddatz earlier today.
During their discussion, Bessent took the opportunity to critique the so-called “fake news” media.
Treasury Secretary Scott Bessent: It’s amusing to see the headlines that get published. Just ten days ago, there was an article claiming this is the worst April for the stock market since the Great Depression. Fast forward ten days, and the Nasdaq has surged this month, yet I haven’t seen any articles announcing, ‘Oh, the stock market has experienced its biggest rebound ever.’
Martha Raddatz: It certainly has had its ups and downs.
Scott Bessent: I believe much of this is driven by media narratives.
Bessent’s observation holds weight. The NASDAQ index stood at 19,278 on March 31, 2025, and as of April 25, 2025, it has climbed to 19,432. Remarkably, the index is performing better than it was at the end of May, despite the challenges posed by President Trump’s tariff policies.
Such a recovery is noteworthy.
However, instead of acknowledging her earlier misstep, Raddatz opted to downplay the matter by suggesting the market was merely oscillating. This characterization misses the point; the market has indeed shown remarkable resilience this month, leaving many in the mainstream media scrambling to reconcile their earlier predictions with the current reality. Rather than owning up to her error, Raddatz seems to have doubled down on misinformation.
It’s becoming increasingly difficult to trust the narratives put forth by the so-called mainstream media!
Via Rapid Response 47:
.@SecScottBessent: “There was a story ten days ago that said this is the worst April for the stock market since the Great Depression. Ten days later, the Nasdaq is now up on the month of April, and I haven’t seen a story that says ‘stock market has biggest bounce back ever.’” pic.twitter.com/gbU68ocKV8
— Rapid Response 47 (@RapidResponse47) April 27, 2025
