Bessent Says US Economy Can Hit 3% GDP Growth by Year-End

Treasury Secretary Scott Bessent declared Monday that the United States economy is capable of returning to 3% GDP growth before the end of the year, signaling continued White House confidence in its economic agenda despite mounting fiscal pressures and trade uncertainty.

Bessent's forecast is rooted in his signature '3-3-3' blueprint — a three-part target that pairs the 3% growth goal with a reduction of the federal deficit to 3% of GDP and a boost in domestic oil production of 3 million barrels per day. The Treasury secretary argued all three objectives remain within reach, framing the plan as an interlocking strategy where energy expansion fuels growth while fiscal discipline tightens the deficit.

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The growth projection stands as an ambitious benchmark. The US economy has struggled to sustain 3% annual GDP expansion in recent years, and many independent economists have flagged risks including tariff-driven inflation, elevated interest rates, and softening consumer demand as potential headwinds for 2025. Bessent's public optimism appears designed in part to project stability at a moment when markets are scrutinizing every signal from Washington.

The energy component of the '3-3-3' plan is equally bold, requiring a substantial ramp-up in domestic oil output at a time when global crude prices have been volatile. Achieving that target would demand significant investment and regulatory cooperation across the energy sector, analysts have noted, though the administration has prioritized deregulation as a catalyst.

Whether Bessent's targets translate into policy results will depend heavily on Congressional action on tax and spending legislation, global trade conditions, and Federal Reserve rate decisions in the months ahead. Continue reading at US Top News and Analysis.

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