Scott Bessent rejects 2026 recession warnings, claims Trump’s agenda will deliver ‘strong growth’

WASHINGTON, DC: Treasury Secretary Scott Bessent on Sunday, November 23, rejected warnings that the US economy could slip into recession in 2026, saying that he is “very, very optimistic” about the outlook. 

Speaking at NBC News' 'Meet the Press', he argued that President Donald Trump’s tariffs, trade deals and sweeping domestic policy package have positioned the country for “a very strong, noninflationary growth economy.”

Bessent claimed that Americans will begin feeling meaningful economic relief next year as various parts of Trump’s agenda take effect. “We believe health care is going to come down,” he added, indicating administration announcements are expected this week.

Scott Bessent acknowledges strain in housing and interest-sensitive sectors

While projecting broad strength, the treasury secretary conceded that certain parts of the economy are struggling. Housing, he said, remains under pressure, echoing concerns raised by National Economic Council Director Kevin Hassett about emerging pockets of weakness. 

Bessent pointed to Trump’s signature domestic policy law, the president’s so-called 'One Big, Beautiful Bill', along with new tax agreements, trade deals and ongoing tariff revisions as the foundation for the administration’s confidence.

“I am very confident about 2026,” Bessent said. “The president has done peace deals, tax deals and trade deals… all kicking in.” He argued that the combined effects will boost long-term growth and ease inflationary pressure.

Scott Bessent's push to end filibuster after shutdown fight

On Sunday, Bessent also published an opinion essay in The Washington Post, calling for Senate Republicans to eliminate the filibuster if Democrats force another shutdown.

He accused Democrats of harming the economy, citing what he called a “1.5% hit to GDP” from the recent closure.

“They haven’t been able to stop President Trump in the courts or in the media,” he said. “So I believe that if Senate Democrats close the government again, Senate Republicans should immediately abrogate the filibuster.”

Bessent sharply criticized several Democratic lawmakers, former military and intelligence officers who released a video urging current service members to refuse unlawful orders.

He called the move “gross negligence” but did not directly answer whether the administration was issuing illegal directives.

“There is one commander in chief,” he said. “When you step outside the chain of command and create noise and chaos, that only helps our enemies,” he added.

Treasury secretary defends 28-point Ukraine peace proposal

The treasury secretary also defended the US-backed 28-point peace proposal for Russia and Ukraine that has drawn concern from European leaders, Ukrainian officials and a bipartisan group of senators who argue it favors Moscow.

Bessent insisted that the outcome would ultimately be determined by Ukrainians, adding, “President Trump is a president of peace.”

He also criticized European allies for pursuing yet another sanctions round against Russia. “If you’re going to do something 19 times, you failed,” he said, praising instead Trump’s sanctions package targeting Indian refiners of Russian oil.