Although the US economy is affected by the 11 billion dollar shutdown, there is no overall recession risk

The 43-day government shutdown has cost the US economy $11 billion permanently, Treasury Secretary Scott Bescent said on Sunday, but he was upbeat about growth prospects for next year, driven by falling interest rates and tax cuts. Mr. Bescent noted on the programme that interest-rate-sensitive parts of the US economy were in recession, but he saw no immediate risk of negative growth for the broader economy. Mr. Bescent blamed inflation on the service economy rather than President Donald Trump's wide-ranging tariffs - a view consistent with the Trump administration's long-standing position. He added that lower energy prices were expected to lower overall prices more broadly.