No recession risk for US economy as a whole after $11 billion shutdown hit, Bessent says

[BumRushDaShow]

Source: Reuters

November 23, 2025 12:22 PM EST Updated 5 hours ago


WASHINGTON, Nov 23 (Reuters) - Treasury Secretary Scott Bessent on Sunday said the 43-day government shutdown caused an $11 billion permanent hit to the U.S. economy, but he was optimistic about growth prospects next year given easing interest rates and tax cuts.

Bessent told NBC's "Meet the Press" program that parts of the U.S. economy that are sensitive to interest rates, including housing, had been in recession, but he did not see the entire economy at risk of negative growth.

He blamed the services economy, not U.S. President Donald Trump's sweeping tariffs, for inflation - repeating the Trump administration's longstanding take - and added that he expected lower energy prices to drive down prices more broadly.

Trump has focused intensely on affordability in recent weeks after Democratic wins in state and local elections and his declining approval ratings - now at 38% - the lowest since his return to power, according to a recent Reuters/Ipsos poll.

Read more: https://www.reuters.com/world/us/no-recession-risk-us-economy-whole-bessent-tells-nbc-2025-11-23/

[Faux pas]

1. Yeah Sure Ya Betcha

Just another puppet of putin's big fat asshole puppet

[pat_k]

4. Just keep shoveling money at NVIDIA and AI. Keep blowing up that balloon and we'll be just fine.

NOT!!

https://www.profgalloway.com/how-does-the-end-begin/

[Faux pas]

12. We all know the big plan is

to steal all the government money they can. Are they all dead yet?

[peppertree]

2. We've been in one since Needy Amin's April 2nd Freedumb Day edicts

Hence the Fat Bastard's refusal to release the latest economic data.

[LetMyPeopleVote]

3. This asshole is incapable of telling the truth

This is just another lie to cover up the damage that trump has done to the US economy

[DallasNE]

5. Read The Monthly Jobs Reports

And say that with a straight face. I expect 2025 will show negative job growth. Lowering interest rates will facilitate building AI data centers but that will accelerate job losses. Tough times for most though.

[FBaggins]

11. Which reports are you reading?

October wasn't released due to the shutdown... but Q4 would have to be pretty massively negative for 2025 overall to show negative job growth.

[DallasNE]

15. BLS Shaved 2025 Job Creation Reports Substantially

Their September jobs report is at odds with other sources, such as ADP, so I expect substantial downward revisions over the next two months, just based on YTD. I also have been following Challenger, Gray, and Christmas reports. https://www.msn.com/en-us/money/savingandinvesting/us-job-cuts-surged-183-in-october-to-a-record-153k-possibly-signaling-the-end-of-america-s-no-hire-no-fire-landscape/ar-AA1RqqJ9?ocid=msedgntp&pc=HCTS&cvid=692d0d9b6d0446f2938df0aa91aa20bb&ei=49

December 16th should be revealing as that is the announced date for November jobs. I guess that they will have a consolidated October-November report, and I expect it to be ugly.

[Deminpenn]

6. The tax cuts won't affect the people who actually spend money on

goods and services that drive the economy. It's well known that the richest Americans to whom the tax cuts are directed have a higher propensity to save, not spend, money.

[BumRushDaShow]

7. ...

the richest Americans to whom the tax cuts are directed have a higher propensity to save hoard not spend, money.

Fixed.

[mahina]

8. Okie doke

[Javaman]

9. yeah cool story bro...

[ProfessorGAC]

10. Translation: They're Very Worried About A Recession

If Bessent says no risk, there's a risk.
He's an idiot & a liar, so the opposite of what he says is likely to be the case.

[Yo_Mama_Been_Loggin]

13. Get your nose out of Trump's rear Bessent

That'll damage your brain.

[LudwigPastorius]

14. "No recession risk for US economy as a whole..., Bessent says"