No ‘Trump Put,’ but policies expected to support markets, says Treasury Secretary Bessent

Treasury Secretary Scott Bessent on Monday (March 10) dismissed the idea that President Donald Trump would intervene to prevent stock market declines, stating on Friday that there is “no put” in place. Instead, he stressed that market gains would be driven by strong policies, as reported by CNBC.

Despite an initial surge following Trump’s election last November, the stock market has since surrendered those gains. The Dow Jones Industrial Average is currently down about 2% since the inauguration, experiencing volatility driven by shifting headlines.

Speculation about a so-called “Trump put”—where the administration might step in to support the market—was rejected by Bessent during an interview on CNBC’s Squawk Box. He clarified that the administration’s approach is focused on fostering economic policies that naturally boost markets.

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While Trump previously monitored stock market performance as an economic indicator, Bessent noted that the administration is now paying closer attention to bond yields as a measure of inflation trends and overall market alignment with policy goals.

“Did the Biden administration succeed? The American people weren’t buying it just because the market was up,” Bessent remarked, adding, “They voted out the Democrats.”

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