Bessent Says Americans to See ‘Substantial Refunds’ Next Year, No Risk of Recession

‘I am very, very optimistic on 2026. We have set the table for a very strong, non-inflationary growth economy,’ the treasury secretary said.

US Secretary of Treasury Scott Bessent listens as US President Donald Trump meets with New York Mayor-elect Zohran Mamdani in the Oval Office of the White House in Washington, DC, on November 21, 2025. Photo by Jim WATSON / AFP

Treasury Secretary Scott Bessent on Nov. 23 said the government shutdown that ended earlier this month will not create a recession risk for the broader U.S. economy and that American families would see “substantial refunds” next year.

In an interview with NBC’s “Meet the Press,” Bessent said that while portions of the U.S. economy, such as housing, were in a recession because of elevated interest rates, he did not expect the broader U.S. economy to plunge into a recession in the coming months.