Bessent Says Entire US Economy Not at Risk of Recession, NBC's 'Meet the Press' Interview

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 benefits from tax cuts.

Bessent told NBC's "Meet the Press" program that parts of the U.S. economy that are sensitive to interest rates, including housing, had been in recession, but he did not see the entire economy at risk of negative growth.

He said inflation was up because of the service economy, not President Donald Trump's sweeping tariffs, adding that he expected lower energy prices to drive down prices more broadly.