Treasury Chief Bessent Optimistic About U.S. Economy As Trump Administration Policies Take Effect

Benzinga

Treasury Secretary Scott Bessent said the U.S. is not heading for a 2026 recession and argued that Trump’s economic policies have yet to be fully felt. He pointed to permanent tax cuts and new breaks for seniors, tipped workers, and borrowers, while acknowledging housing-sector weakness. Polls show voters remain skeptical of the administration’s economic performance, with confidence diverging sharply by income.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Treasury Secretary Scott Bessett said the U.S. was not at risk of a 2026 recession

00:06and predicted Americans would soon feel the benefit of Trump's economic policies,

00:10according to CNBC. In an interview with NBC's Meet the Press, Bessett said key elements of

00:15the One Big Beautiful Bill Act are still rolling out and have not yet shown up in the economy.

00:20The law makes Trump's 2017 tax cuts permanent and adds new breaks for seniors, tip income,

00:26overtime pay, and auto loans. He acknowledged weakness in housing and rate-sensitive sectors

00:30and said lower energy prices will help ease inflation. A recent NBC poll found that most

00:35voters say the administration has fallen short on the economy, while J.P. Morgan reporting

00:39confidence varies widely by income level. For all things money, visit Benzinga.com.

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