Treasury Secretary Scott Bessent provided an open-ended assessment of the U.S. economic outlook, stating that he does not expect a recession in 2026.
He argued that the policy framework advanced by President Donald Trump will begin to yield visible economic improvements next year. Speaking in an interview on NBC News’ Meet the Press, Scott Bessent stated he is confident that tariff actions, trade agreements, and the administration’s major domestic legislation have already positioned the country for what he described as strong, noninflationary growth heading into 2026.
Bessent cites tariff agenda and domestic legislation
In the interview, Bessent disclosed that the administration’s current policy mix is expected to generate broad economic relief, arguing that various components of Trump’s recent legislative package, referred to by the president as the “One Big, Beautiful Bill,” are beginning to take effect. He argued that next year will show the benefits of completed tax, trade, and peace agreements, describing these initiatives as central to the administration’s economic strategy.
The administration anticipates movement on health-care costs, he said, adding that more details on this front will be released within the week. His comments followed the release of an NBC News poll earlier this month, which indicated that roughly two-thirds of registered voters believe the administration has fallen short in terms of economic performance and cost-of-living issues.
Although Scott Bessent rejected the prospect of a 2026 recession, he acknowledged that anxiety persists in certain areas of the economy, particularly those tied to interest rates. He noted that housing has struggled and agreed with earlier remarks from National Economic Council Director Kevin Hassett, who stated that parts of the economy have slipped into recessionary territory.
In a separate Fox interview on Sunday, Hassett predicted a strong year ahead, citing the buildup of manufacturing capacity and the expectation that newly established facilities will support job growth as they come online.
Bessent calls for end to Senate filibuster amid shutdown dispute
Scott Bessent, in addition to his comments on the economy, touched on the political tensions that surrounded the recent shutdown. He wrote an opinion piece in The Washington Post encouraging Senate Republicans to reconsider the filibuster if Democrats cause another government shutdown.
He claimed that the shutdown had taken a quantifiable blow on the GDP, and that the Senate Democrats had stood in the way of the administration’s agenda. In response to the question of whether the Trump administration has given unlawful orders, Bessent did not directly respond but condemned a video released by former military and intelligence officers who advised current staff to disobey unlawful orders.
Scott comments on Russia-Ukraine peace proposal
Bessent also discussed the ongoing negotiations aimed at resolving the conflict between Russia and Ukraine. He stated that he supported a 28-point proposal proposed by the U.S., which has raised eyebrows among Ukrainian leaders, European leaders, and congressmen who believe that the structure may harm Ukraine.
According to Scott Bessent, the bottom line remained in the hands of Ukrainian officials, who described Trump’s policy as aimed at achieving peace. He opposed the European leaders who were considering new sanctions against Russia, arguing that repeatedly hitting a target was a sign of policy failure.
He contrasted this with the administration’s sanctions targeting Russian oil flows through India. Bessent said he has not discussed any timeline with the president regarding when the peace proposal should be finalized, including speculation around a Thanksgiving deadline.
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Source: https://www.cryptopolitan.com/scott-bessent-dismisses-recession-fear/
