Bessent ‘Very Optimistic’ On U.S. Economy In 2026 Despite Recession Fears

Treasury Secretary Scott Bessent said on Sunday that the economy isn’t headed for a large-scale recession, despite certain sectors showing recessionary signs.

Speaking with Kristen Welker of NBC’s “Meet the Press,” Bessent was asked about the health of the economy.

“Big picture, Mr. Secretary, you said earlier this month, I’m going to quote you, ‘I think there are sectors of the economy that are in a recession.’ Kevin Hassett, Director of the National Economic Council, said: ‘We’re starting to see pockets of the economy that look like they might be in a recession.’ Which parts of the economy do you believe have dipped into a recession?” Welker asked.

“Well, clearly housing has been struggling … so interest rate-sensitive sectors have been in a recession,” Bessent replied.

The secretary then noted that the Democrat-led 43-day government shutdown wasn’t helpful to the economy, with nearly 10,000 flights canceled and a 1.5% hit to GDP.

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Welker pressed, asking if the entire country was at risk of entering a recession.

“No, I am very confident about 2026 because what we are going to see is the president has done peace deals, tax deals, and trade deals. The One Big, Beautiful Bill — and to go back to affordability, [it] has two components, so it’s price of goods and real incomes. So under the One Big, Beautiful Bill, especially for working Americans, no tax on tips, no tax on overtime, no tax on Social Security, auto deductibility on loans for American cars — that’s all kicking in,” Bessent said.

He also said that when Americans change their withholding, there will be “substantial refunds to working families in the first quarter of 2026.”

“I am very, very optimistic on 2026. We have set the table for a very strong, non-inflationary growth economy,” Bessent concluded.

Sec. Scott Bessent says big growth is coming in the Trump economy into 2026 pic.twitter.com/64LP1f72k1

— Breaking911 (@Breaking911) November 23, 2025