Treasury Secretary Scott Bessent said the US is not at risk of a recession in 2026 \u2013 adding that he\u2019s \u201cvery, very optimistic\u201d about the impact from President Trump\u2019s tariffs and trade deals.<\/p>\n
When asked whether the US could slip into a recession next year, Bessent said \u201cno.\u201d<\/p>\n
\u201cI am very, very optimistic on 2026. We have set the table for a very strong, noninflationary growth economy,\u201d Bessent told NBC News\u2019 Kristen Welker<\/a> during \u201cMeet the Press\u201d on Sunday.<\/p>\n Treasury Secretary Scott Bessent said the US is not at risk of a recession in 2026. AP<\/p>\n Bessent added that Americans will feel relief next year as Trump\u2019s tariffs, trade deals and \u201cbig, beautiful bill\u201d set in.<\/p>\n Specifically, \u201chealth care is going to come down,\u201d Bessent said, adding that details on this front will come this week.<\/p>\n It\u2019s a sharp turnaround from earlier this year, when Goldman Sachs and JPMorgan hiked odds<\/a> of a US recession to 65% and 60%, respectively, after Trump unveiled his \u201cLiberation Day\u201d tariffs.\u00a0<\/p>\n The two firms have since slashed those chances to just 30% and 40% as tariff rates have been negotiated lower.<\/p>\n Bessent acknowledged that some parts of the economy, like housing, have come under pressure.<\/p>\n Earlier this month, National Economic Council Director Kevin Hassett said \u201cwe\u2019re starting to see pockets of the economy that look like they might be in a recession.\u201d<\/p>\n Bessent said Sunday that \u201chousing has been struggling, and interest rate-sensitive sectors have been in a recession.\u201d<\/p>\n US inflation heated up to 3% in September, the fastest rate since January, according to the Consumer Price Index. REUTERS<\/p>\n The government shutdown \u2013 the longest-ever at 44 days \u2013 also weighed on the economy, Bessent said.<\/p>\n Trump has been touting his affordability agenda after cost-of-living concerns propelled Dems like socialist NYC Mayor-elect Zohran Mamdani to victory earlier this month.<\/p>\n Economic concerns around inflation and the shutdown sent monthly consumer sentiment down to 50.3<\/a> in November, according to the University of Michigan.<\/p>\n That\u2019s the lowest level in more than three years and close to the worst-ever reading.<\/p>\n US inflation heated up to 3%<\/a> in September, the fastest rate since January, according to the Consumer Price Index.<\/p>\n The unemployment rate ticked up to 4.4% in September, its highest level in four years, according to the Bureau of Labor Statistics. AP<\/p>\n Americans have seen prices spike on everything from a cup of coffee and kids\u2019 toys<\/a> to living room furniture and Amazon deals just ahead of the busy holiday shopping season.<\/p>\n