US Treasury's Bessent says economy may slow as it shifts away from public spending

WASHINGTON, March 7 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Friday that the U.S. economy may slow as it transitions away from public spending towards more private spending, calling it a "detox period" needed to reach a more sustainable equilibrium.

"Look, there's going to be a natural adjustment as we move away from public spending to private spending," Bessent said on CNBC. "The market and the economy have just become hooked, and we've become addicted to this government spending, and there's going to be a detox period."