US EditionNo 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.
40 Articles
40 Articles
Bessent Says Americans to See ‘Substantial Refunds’ Next Year, No Risk of Recession
Treasury Secretary Scott Bessent on Sunday said the government shutdown that ended earlier this month will not create a recession risk for the broader U.S. economy and American families would see “substantial refunds” next year. In an interview with NBC’s “Meet the Press,” Bessent said that while portions of the U.S. economy such as housing were in a recession due to elevated interest rates, he did not expect the broader U.S. economy to plunge i…
No recession risk for US economy as a whole after $11 billion shutdown hit, Bessent says
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.
Treasury Sec Bessent say he’s ‘very confident’ US won’t slip into a recession
Treasury Secretary Scott Bessent said on Sunday that the U.S. is not at risk of a recession.I am very confident about 2026. Because what we are going to see is the president’s done peace deals, tax deals, and trade deals, the One Big Beautiful Bill. And, you know, to go back to affordability, affordability has two components. So it’s price of goods and real income. So under the One Big Beautiful Bill, especially for working Americans, no tax on t
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