Treasury Secretary Scott Bessent denied that a recession would take place in 2026.
“Well, big picture, is the entire country at risk of being in a recession?” Kristen Welker asked Bessent on NBC News’ “Meet the Press” on Sunday, the same day his new Washington Post op-ed arguing for an end to the filibuster published.
“No. I am very confident about 2026. Because what we are going to see is the president’s done peace deals, tax deals and trade deals, the One Big Beautiful Bill,” Bessent responded. “I am very, very optimistic on 2026. We have set the table for a very strong, noninflationary growth economy.”
Bessent also denied that inflation is up.
“We have slowed inflation. And we are working very hard to bring it down,” he said.
When Welker asked why the Trump administration was rolling back tariffs if they actually helped consumers, Bessent claimed that inflation had “nothing to do with tariffs.” He claimed Americans would see prices go down in weeks and months to come, but he was not specific about what and by how much.
Earlier this month, Bessent told CNN that “sectors of the economy” are in a recession. As such, Welker asked Bessent to clarify which parts of the economy he believes are experiencing a recession.
“Well, clearly, housing has been struggling. So interest rate sensitive sectors have been in a recession. And, you know, the other thing that was not helpful, Kristen, was the longest government shutdown in history,” Bessent said.
President Donald Trump’s presidential campaign last year focused largely on reducing the cost of living and improving the economy. But, a Fox News national survey published last week found that 76% of voters view the economy negatively. Similarly, an NBC News poll from earlier this month found that two-thirds of voters believe that the Trump administration “has fallen short on the economy and the cost of living.”