US Treasury Secretary Bessent Says Economy Can Grow 3% or Higher Without Inflation
US Treasury Secretary Scott Bessent said the US economy can grow at a rate of 3% or higher this year, asserting that the country can maintain strong GDP growth without triggering traditional inflation.
Speaking to reporters, Bessent noted that recent price pressures have been largely structural and confined to the services sector. He added that the US can maintain a strong dollar even as the Federal Reserve cuts interest rates, and he forecasted an extended economic expansion resembling the 1990s. Bessent also voiced strong support for Federal Reserve Chair Kevin Warsh, praising his removal of forward guidance and citing President Donald Trump’s confidence in his inflation-fighting approach.
From the sources (25 posts)
@financialjuiceUS Treasury Secretary Bessent: Structural inflation has been in services
@deitaoneBESSENT ON U.S. DOLLAR: DOLLAR DOMINANCE IS ESSENTIAL -CNBC
@firstsquawkBESSENT: DOLLAR DOMINANCE IS ESSENTIAL
@financialjuiceUS Treasury Secretary Bessent: Dollar dominance is essential
@deitaoneBESSENT: WE LOVE DOING THE RIGHT THINGS TO KEEP U.S. DOLLAR STRONG
@financialjuiceUS Treasury Secretary Bessent: What we love is doing things to make the Dollar strong
@firstsquawkBESSENT: YOU CAN HAVE STRONG DOLLAR WHEN RATES ARE BEING CUT
@financialjuiceUS Treasury Secretary Bessent: You can have a strong Dollar when rates are being cut
@financialjuiceUS Treasury Secretary Bessent: Mostly, think going to have a strong Dollar on US growth
@financialjuiceUS Treasury Secretary Bessent: I see non-inflationary economy acceleration for the rest of the year
@firstsquawkBESSENT: SEE NON-INFLATIONARY ECONOMY ACCELERATION REST OF YEAR
@zerohedge*BESSENT: SEE NON-INFLATIONARY ECONOMY ACCELERATION REST OF YEAR *BESSENT: YOU CAN HAVE STRONG DOLLAR WHEN RATES ARE BEING CUT
@financialjuiceUS Treasury Secretary Bessent: I think real wage growth to return to pre-April cadence
@financialjuiceUS Treasury Secretary Bessent: In February, thought inflation would be close to 2% by mid-summer
@financialjuiceUS Treasury Secretary Bessent, on Fed: I applaud Warsh for eliminating forward guidance
@firstsquawkBESSENT: CAN HAVE HIGH GDP GROWTH WITHOUT TRADITIONAL INFLATION
@financialjuiceUS Treasury Secretary Bessent: Can have high GDP growth without traditional inflation
@deitaoneBESSENT ON FED: APPLAUD WARSH FOR ELIMINATING FORWARD GUIDANCE
@firstsquawkBESSENT: GOOD CHANCE OF REPEAT OF 1990S EXTENDED ECO. EXPANSION
@zerohedge*BESSENT: I APPLAUD WARSH GETTING RID OF FORWARD GUIDANCE *BESSENT: WARSH `CAME OUT TOUGH' TALKING ABOUT INFLATION
@financialjuiceUS Treasury Secretary Bessent: Good chance of a repeat of the 1990s extended economic expansion
@deitaoneBESSENT ON FED, RATE CUTS: TRUMP HAS CONFIDENCE IN WARSH
@deitaoneBESSENT ON U.S. ECONOMY, GDP: CAN GET TO SOMETHING WITH 3 IN FRONT OF IT THIS YEAR -CNBC
@financialjuiceUS Treasury Secretary Bessent: Trump publicly and privately said he's confident in Warsh
@zerohedge*BESSENT: THINK CAN HAVE 3% OR HIGHER GROWTH THIS YEAR