Besenet: Although the U.S. economy is impacted by an $11 billion shutdown, there is no overall recession risk.

Golden Finance reports that U.S. Treasury Secretary Scott Pessen stated on Sunday that the 43-day government shutdown has caused a permanent loss of $11 billion to the U.S. economy, but he is optimistic about the economic growth outlook for next year due to the decline in Intrerest Rate and tax reduction policies. Pessen pointed out in the program that interest rate-sensitive sectors of the U.S. economy have fallen into recession, but he believes there is no risk of overall economic negative growth at this time. Pessen attributed inflation to the service-based economy, rather than the tariff policies implemented on a large scale by U.S. President Donald Trump — a view consistent with the long-standing position of the Trump administration. He added that the expected decline in energy prices will lower overall prices more broadly.