Bessent: US Not Headed for Recession, Economic Growth Ahead
Update: 2025-11-23
Description
Treasury Secretary Scott Bessent projects a positive economic outlook for the U.S. in 2026, citing benefits from the administrations trade and tax policies. He highlights the new spending package, which includes tax cuts, Social Security bonuses, and deductions, as well as tax breaks for various income sources and auto loans. Bessent also anticipates more affordable healthcare, but warns of potential higher costs due to Congress subsidy dispute. He acknowledges economic struggles in housing and interest-rate sensitive sectors, but expects lower energy prices to alleviate inflation. Kevin Hassett, the White House National Economic Council director, notes potential economic weakness in the fourth quarter due to the longest government shutdown in history.
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