Treasury Secretary Bessent has said some sectors of U.S. economy already in recession

Only seven weeks into his second term, Donald Trump was asked whether his economic plans might trigger a downturn in the near term. Fox News host Maria Bartiromo asked him directly: “Do you expect a recession this year?” Trump spoke at length in response — but never actually said no.

“I don’t like making predictions like that,” he answered, just weeks after admitting publicly that some Americans could soon experience “some pain” as a result of his policies.

In March, Commerce Secretary Howard Lutnick suggested the same — that a recession could happen — while arguing it would be worth the trade-off if it produced better results later.

Six months later, Treasury Secretary Scott Bessent offered his own assessment of the economy. According to Axios:

Parts of the economy are already contracting, and other areas may follow if interest rates aren’t lowered further, Bessent told CNN. When asked if the U.S. faces recession risks without more rate cuts, he said, “We’re in decent shape, but there are segments of the economy that are in recession.”

It’s important to note the context: he was making this case while advocating for additional Federal Reserve rate cuts.

But the takeaway is hard to ignore: Trump’s treasury secretary says that as the first year of Trump’s second term draws to a close, some parts of the U.S. economy are already in recession.

This directly contradicts Trump’s public messaging. The president consistently makes the opposite claim.

“We have the best economy we have ever had,” Trump said recently. “My first-term economy was great, but this one is blowing past that.”

During his travel in Asia, he repeated the message multiple times, insisting the United States has never experienced an economy as strong as it is now.

The problem for the administration: polls show most Americans don’t buy it. A recent CBS News/YouGov survey found:

• 60% disapprove of Trump’s handling of the economy
• 51% say his policies have made their personal situation worse

A new CNN poll shows similar numbers: 61% believe Trump’s policies have worsened the economy, not improved it.

In other words, the “pain” Trump warned about back in March appears to be showing up — and people are feeling it — despite the president’s repeated claims of a “golden age.”

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