It looks like the US Treasury Secretary may be getting into the holiday spirit. Reportedly, US Treasury Secretary Scott Bessent said on Sunday that it’s been a “very strong” holiday shopping season so far and predicted that the U.S. economy would end the year on strong footing.
“The economy has been better than we thought. We’ve had 4% GDP growth in a couple of quarters,” he said in an interview on CBS News’ ‘Face the Nation.’ “We’re going to finish the year, despite the Schumer shutdown, with 3% real GDP growth.”
In 2025, U.S. inflation appeared generally moderate through the first three quarters of the year. Monthly Consumer Price Index (CPI) data from January through August were published on schedule, showing steady price growth. The September 2025 CPI report was delayed to October 24 due to funding disruptions caused by the federal government shutdown.
READ: Treasury Secretary Scott Bessent says government shutdown is hurting the economy (
Reportedly, gross domestic product contracted by 0.6% year-over-year for the first three months of 2025, according to the Bureau of Economic Analysis. The second quarter of the year saw a 3.8% increase.
“The word ‘affordability’ is a con job by the Democrats,” US President Donald Trump said during a cabinet meeting on Tuesday. “The word ‘affordability’ is a Democrat scam.”
Reportedly, when asked about Trump’s comments on Sunday, Bessent said that the administration was dealing with inflation issues leftover from the Biden administration and pointed to media coverage as a source of Americans’ view of the economy.
“The American people don’t know how good they have it,” he said. “Now, Democrats created scarcity, whether it was in energy or over-regulation, that we are now seeing this affordability problem, and I think next year we’re going to move on to prosperity.”
In 2025, the U.S. economy demonstrated both resilience and volatility. Early in the year, GDP contracted slightly in the first quarter, reflecting lingering effects from prior economic challenges. However, the second quarter rebounded with strong growth, suggesting that underlying economic fundamentals remained solid.
The federal government shutdown in October–November 2025 created temporary disruptions in data collection, particularly affecting the release of the Consumer Price Index (CPI). While monthly CPI data through August remained available, the delayed September report and the absence of an October report introduced uncertainty into assessments of late-year inflation trends.
Public commentary on the economy reflected political divisions, with differing perspectives on issues like affordability, regulation, and the causes of inflation. Despite the uncertainties, consumer spending, corporate investment, and employment indicators through mid-2025 suggest that the economy retained momentum.
2025 reflected an economy navigating both growth opportunities and underlying challenges. Consumer confidence and corporate activity indicated ongoing resilience, while labor markets remained relatively stable, supporting household income and spending. Investment trends and market performance suggested that businesses were responding to economic signals with cautious optimism, signaling potential for continued expansion.
The U.S. economy appears positioned to build on the momentum of 2025. Structural strengths such as a diversified industrial base, robust consumer demand, and a flexible labor market provide a foundation for continued growth. Businesses and households that navigated uncertainty this year may enter 2026 with greater confidence, potentially supporting investment, innovation, and job creation.
At the same time, attention to long-term economic health remains important. Issues such as inflation management, regulatory balance, and fiscal sustainability will continue to shape economic prospects. Policymakers and market participants alike will need to monitor trends closely to ensure that growth is both durable and inclusive.