Plus: President Donald Trump threatens Russia with sanctions. American liquor, wine and spirits pulled from Canadian shelves in response to tariffs.

U.S. Treasury Secretary Scott Bessent said the U.S. economy may go into a "detox period" as it reached a more sustainable equilibrium.

Treasury Secretary Scott Bessent said the U.S. economy may be “starting to roll a bit,” as data suggests last year’s red-hot economy may be slowing. Bessent said the Trump administration’s moves to transition the economy to one which emphasizes private spending over public spending may require a “detox” period.