Some portions of the economy are already in a recession, and others could fall into one without more interest rate cuts, Treasury Secretary Scott Bessent said on CNN Sunday.

Why it matters: For as much as the economy is actually growing — close to 4% by some estimates — the administration continues to use the specter of economic weakness to lean on the Federal Reserve to cut more, faster.

Driving the news: The Fed cut rates this week but surprised the market with a strong warning that another cut in December was not a foregone conclusion. • Before that, investors were betting there was nearly a 100% chance of a December cut.

What they're saying: Asked if the U.S. risks a recession if the Fed doesn't keep cutting rates, Bessent told CNN's Jake Tapper, "I think we are in good shape, but

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