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CNBC

24 Jun 2026, 12:03 UTC · 3h ago

Treasury Secretary Bessent says U.S. GDP growth can return to 3% before end of the year

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What the story claims

4 claims · each scored for market impact

What matters in this story

1
Treasury Secretary Scott Bessent aims for a '3-3-3' plan consisting of 3% GDP growth, a 3% deficit-to-GDP ratio, and a 3 million barrels per day increase in domestic oil production. — Combining aggressive growth, fiscal consolidation, and increased energy supply is highly bullish for risk assets and the USD.
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2
The U.S. government is targeting a deficit-to-GDP ratio of 3% by the end of the president's term to begin paying down overall debt as a percentage of the economy. — A significant reduction in the deficit would lower long-term Treasury supply and improve sovereign credit stability.
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3
The administration expresses confidence that new Fed Chairman Kevin Warsh will guide monetary policy appropriately, amidst Trump's preference for lower rates to ease debt burdens. — Signals a potential shift toward more dovish monetary policy under new leadership, which generally supports equity valuations.
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