U.S. Treasury Secretary Scott Bessent delivered a confident outlook for the nation’s economy during an interview on NBC’s Meet the Press that aired Sunday, stating that the United States is not on track to experience a recession in 2026. According to Bessent, the broader economic environment remains stable, despite isolated pockets of weakness in certain industries.
Bessent, who previously built a career as a hedge fund manager and economic analyst before taking the helm at the Treasury earlier this year, expressed optimism about the nation’s financial health. He acknowledged that some segments of the economy have cooled but stressed that these developments do not signal a nationwide downturn.
“There is no recession risk for the U.S. economy as a whole,” Bessent emphasized, noting that several key indicators-including consumer spending, employment growth, and industrial output-remain solid heading into the new year.
However, he did highlight one notable area of concern: the technology sector. Bessent described the industry as “definitely in a recession,” pointing to slower hiring, reduced investment activity, and weakened demand across various tech subsectors. Despite this, he reiterated that challenges in one industry should not be interpreted as a warning sign for the entire economy.
Economic analysts have been divided in recent months, with some forecasting a mild slowdown and others warning of a broader downturn. Bessent’s comments appear aimed at easing public uncertainty and reinforcing confidence among investors and consumers.
The Treasury Secretary emphasized that the administration remains focused on maintaining economic resilience and supporting sectors undergoing transition. His remarks come as markets continue to assess the impact of global trade pressures, shifting consumer behavior, and the evolving technological landscape.
By dismissing predictions of a recession in 2026, Bessent sought to reassure Americans that the country’s economic foundations remain strong-even as certain industries confront a more challenging period.
