Lookonchain APP

App Store

Former Treasury Secretary Downplays Economic Recession Concerns, Calls Stock Market Pullback a Natural Phenomenon

2025.03.14 02:24:27

March 14: Former U.S. Treasury Secretary Mnuchin downplayed the risk of a U.S. economic recession and played down the current stock market sell-off, viewing it as an adjustment in response to U.S. President Trump's aggressive trade policy. Mnuchin stated in an interview on Thursday, "We entered the market when it was already fully priced. Therefore, I think a 5% to 10% adjustment in the S&P index or Nasdaq index is actually reasonable." "The market has indeed been driven by a significant amount of tech spending, particularly in artificial intelligence. To a certain extent, this is a natural adjustment in the market," Mnuchin said. "Some of it is the market's concern about tariffs and their implications." He advised investors not to "overreact." He said, "I don't think we will enter a recession at all. As we reduce government spending, the economy may slow down slightly, but I don't think investors should be worried about an economic recession." He also mentioned that the current biggest concern is the U.S.'s substantial fiscal deficit and called on Republicans to extend Trump's 2017 tax cuts to mitigate the impact on borrowing. (FXStreet)
Relevant content

This Week's Token Unlock Overview: SUI, EIGEN, ENA and Others to See Large One-Time Token Unlocks

According to Token Unlocks data, tokens including SUI, EIGEN, and ENA will see major unlocks this week, with UTC+8 times as follows: Falcon Finance (FF) will unlock approximately 77.14 million tokens at 9 PM on September 29, representing 2.51% of its circulating supply and valued at around $10.2 million; Collector Crypt (CARDS) will unlock about 59.26 million tokens at 3 AM on September 30, accounting for 10.62% of its circulating supply and worth roughly $10.7 million; Kamino (KMNO) will unlock approximately 229 million tokens at 8 PM on September 30, making up 2.81% of its circulating supply and valued at about $10.8 million; Sui (SUI) will unlock around 13.26 million tokens at 8 AM on October 1, equivalent to 0.32% of its circulating supply and worth roughly $16.7 million; EigenCloud (EIGEN) will unlock approximately 36.82 million tokens at 12 PM on October 1, representing 5.19% of its circulating supply and valued at around $10.3 million; Ethena (ENA) will unlock about 40.63 million tokens at 3 PM on October 2, accounting for 0.45% of its circulating supply and worth roughly $11 million; DoubleZero (2Z) will unlock approximately 1.66 billion tokens at 9 PM on October 2, making up 47.69% of its circulating supply and valued at around $114 million.

15 minutes ago

South Korea's KOSPI index fell 1%, Samsung Electronics dropped 2.54%, and SK Hynix declined 2.82%.

According to Bitget market data, South Korea’s KOSPI index saw an intraday decline of 1.00%. Samsung Electronics fell 2.54%, while SK Hynix dropped 2.82%.

15 minutes ago

Altcoins in the crypto market are continuing their sector rotation, with cross-chain infrastructure token QNT leading gains, GRT and W rising in tandem, and Solana ecosystem tokens rallying broadly.

According to HTX market data, the crypto market remains range-bound and volatile. Bitcoin is trading at $85,000, Ethereum at $2,700, SOL at $122, ZEC at $1,590, and BNB at $783. The total cryptocurrency market cap is down 1% over 24 hours, standing at $2.966 trillion. Altcoins continue to rotate, with cross-chain infrastructure token QNT leading gains, followed by GRT and W. Among Solana ecosystem tokens, PUMP is the top gainer, with ORCA, JUP, MET, and others rising around 10%. Top gainers include: QNT, trading at $304.01, up 102.85% in 24 hours. On September 24, The Clearing House selected Quant to provide interoperability and settlement technology for its on-chain currency project, and the market has been buzzing over its partnership with the U.S. banking system. Other notable gainers: GRT at $0.03517 (+28.45%), W at $0.01565 (+19.47%), IMX at $0.1916 (+16.69%), JASMY at $0.005544 (+16.24%), PUMP at $0.005073 (+15.69%), SEI at $0.08109 (+13.75%), AUDIO at $0.01698 (+13.65%), NOM at $0.002325 (+12.65%), and ORCA at $1.795 (+9.92%).

15 minutes ago

California, USA has passed legislation banning public officials from issuing meme coins, with Governor Gavin Newsom specifically criticizing former President Trump’s personal meme coin, TRUMP.

California Governor Gavin Newsom signed a series of bills on September 27, including banning California public officials from issuing meme coins and prohibiting trading platforms from listing meme coins featuring public officials’ images. The legislation also establishes a victim recovery mechanism to crack down on cryptocurrency fraud and money laundering, and clarifies procedures for seizing crypto assets belonging to transnational criminal networks. In his signing statement, Newsom specifically criticized former President Donald Trump’s 2025 personal meme coin TRUMP, noting that nearly 1 million buyers have suffered total losses exceeding $3 billion, while Trump himself profited approximately $636 million.

15 minutes ago

Bitcoin has surpassed $85,000, while Ethereum has broken through $2,700.

According to HTX market data, Bitcoin has broken through the $85,000 level, with a 0.75% 24-hour gain. Ethereum has surged past $2,700, posting a 0.2% rise over the same period.

15 minutes ago

StonkFun’s official X account has now returned to normal after a brief suspension.

Solana-based token launch platform StonkFun’s official X account has been restored to normal following a brief suspension by the X platform. According to GMGN data, STONK’s current market capitalization stands at $202 million.

15 minutes ago

Popular tokens

BitcoinEthereumHyperliquidSolanaTRONBNBTetherAaveXRPPepeFartcoinOndoJupiterUniswapBonkPendleEthenaArbitrumAvalancheLidoChainlinkPolygonDogecoinCardano