No recession risk for US economy as a whole after $11 billion shutdown hit, Bessent says
Treasury Secretary Scott Bessent credits tariff agenda and trade deals for setting the stage for strong, noninflationary growth despite housing sector pressures.
- On Sunday, Treasury Secretary Scott Bessent told NBC's Meet the Press the U.S. is not at risk of a recession in 2026, crediting President Donald Trump's tariff agenda and trade deals.
- An NBC News poll earlier this month found about two-thirds of registered voters say the Trump administration has fallen short on the economy and the cost of living, while Bessent acknowledged the housing sector and interest-rate-sensitive sectors are struggling.
- The longest government shutdown squeezed the economy, and Bessent said it caused a 1.5% hit to GDP while criticizing several Democratic lawmakers who are former military and intelligence officers.
- Also Sunday, Bessent published an opinion piece in The Washington Post urging Republicans to end the Senate filibuster and put the Senate on notice if Senate Democrats close the government again.
- Next year, he expects factories to be in place and jobs to follow while supporting a 28-point U.S.-backed peace proposal that concerns Ukrainians and European leaders.
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56 Articles
No recession likely after government shutdown, Treasury Secretary says
U.S. Treasury Secretary Scott Bessent seems confident that the United States is safe from a recession even after a prolonged government shutdown. Bessent on Sunday said the 43-day government shutdown caused an $11 billion permanent hit to the U.S. economy, but he was optimistic about growth prospects next year given easing interest rates and tax cuts. “I am very, very optimistic on 2026. We have set the table for a very strong, non-inflationary…
Treasury Secretary Bessent says there won’t be a US recession in 2026: ‘Very, very optimistic’
Treasury Secretary Scott Bessent said the US is not at risk of a recession in 2026 – adding that he’s “very, very optimistic” about the impact from President Trump’s tariffs and trade deals.
Bessent: No recession risk for U.S. economy after shutdown | Honolulu Star-Advertiser
WASHINGTON >> Treasury Secretary Scott Bessent on Sunday said the 43-day government shutdown caused an $11 billion permanent hit to the U.S. economy, but he was optimistic about growth prospects next year given easing interest rates and tax cuts.
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