Govt shutdown: US Senate deal too late? Economic disaster already underway, says Trump Treasury Secy

U.S. Treasury Secretary Scott Bessent, a former hedge fund manager and seasoned Wall Street investor, warned that the prolonged government shutdown is slashing economic growth and putting America’s recovery at risk. Comparing the current slowdown to the “vibe session” under Biden, Bessent highlighted progress in reducing inflation under President Trump, crediting cooling gas and mortgage prices to new policies. He expects prices to keep falling in the coming months, but stressed that continued political deadlock could halve economic growth for the quarter and derail further progress.