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Bullish Treasury Secretary Projections: US GDP to Hit 3% Growth in 2025
Treasury Secretary Scott Bessent recently predicted the United States will finish 2025 with three percent gross domestic product growth. According to an AOL article, Bessent made this statement despite economic volatility from tariffs and immigration policy changes. He expressed confidence in the economy's resilience as the year ends.
In recent days, Bessent has focused on steadying markets amid President Trump's aggressive trade agenda. Bloomberg reports Bessent held talks with top bankers to calm Wall Street concerns over potential tariff impacts on global supply chains. He emphasized that targeted tariffs aim to protect American manufacturing without sparking widespread inflation.
The Wall Street Journal notes Bessent's role in advising on a new fiscal package, including tax cuts for middle-income families set to take effect next month. This move, per the Journal, seeks to boost consumer spending and offset any short-term tariff costs.
Fox Business highlights Bessent's appearance on a morning show where he defended the administration's immigration stance, linking it to wage growth for U.S. workers. He stated stricter border controls could add up to one percent to GDP by reducing labor market pressures.
Reuters coverage details Bessent's meeting with Federal Reserve officials, urging a measured approach to interest rates. He argued current data supports no immediate cuts, prioritizing long-term stability over quick fixes.
CNBC reports Bessent dismissed recession fears, pointing to strong holiday retail sales as evidence of consumer strength. His comments align with recent Commerce Department figures showing robust November spending.
These developments underscore Bessent's proactive stance in navigating policy shifts while projecting economic optimism.
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Published on 4 days, 10 hours ago