No recession in 2026 but some sectors are challenged
U.S. treasury secretary Scott Bessent arrives to speak at the field expansion groundbreaking ceremony at the Boeing South Carolina (BSC) manufacturing facility in North Charleston, South Carolina, United States, Friday, November 7, 2025.
Sean Rayford | Bloomberg | Getty Images
The United States is not at risk of entering a recession in 2026, Treasury Secretary Scott Bessent said Sunday, claiming Americans will soon benefit from the Trump administration’s economic policies on trade and taxes.
“I’m very, very optimistic about 2026,” Bessent said in an interview with NBC News. “Meet the press.” “We have set the table for a very strong, non-inflationary growth economy.”
Bessent said parts of the GOP’s massive spending package (the One Big, Beautiful Bill Act) are still being enacted and haven’t yet been felt in the economy. The new law makes permanent Trump’s 2017 tax cuts, as well as a top-tier “bonus” and larger state and local tax cuts to offset Social Security taxes. The plan also includes tax breaks for tip income, overtime pay and auto loans.
Bessent added that health care costs are also expected to become more affordable. The secretary said the Trump administration will have more news on this issue this week.
For now, congressional impasse over extension of increased subsidies in the Affordable Care Act Market place It is expected to increase health care costs for millions of people.
Bessent acknowledged that there are some parts of the economy that show signs of struggling, including housing and interest rate-sensitive sectors. Stating that the services economy contributes to inflation, he claimed that lower energy prices will soon help reduce prices.
White House National Economic Council Director Kevin Hassett also said on Sunday that economic data for the fourth quarter may show weakness due to the government shutdown. The 43-day congressional stalemate in Washington, D.C. was the longest in U.S. history.
Nearly two-thirds of registered voters are from the Trump administration fell short recently on the economy and the cost of living. NBC News poll to create.
Americans’ views on the economy depend largely on their income levels, according to JPMorgan’s latest Cost of Living Survey.
The bank found that high-income respondents rated their confidence at an average of 6.2 out of 10, with 10 being best. More than half of this group chose a score between 7 and 10. In contrast, low-income consumers reported an average score of 4.4.
