Treasury Secretary Scott Bessent announced Wednesday that the U.S. economy can return to 3% growth as the Iran war draws to a close.
“We can have something with a three in front of it this year,” Bessent told reporters. “The underlying economy has been strong.”
Bessent’s comments follow a slow two quarters as the domestic economy has faced several challenges, including a resurgence in inflation, a once-moderating labor market, and the effects of tariffs.
Bessent reaffirmed that his “3-3-3” plan remains achievable, targeting 3% growth, a 3% deficit-to-GDP ratio, and a 3 million-barrel-per-day increase in domestic oil production. He noted that the economy was growing at roughly 4% in February, just before the U.S. and Israel initiated their attack on Iran.
Gross domestic product increased at a 1.6% annualized rate in the first quarter after rising only 0.5% in the fourth quarter of 2025, ending a year with 2.1% growth.
Bessent confirmed that President Trump is “confident” that new Fed Chairman Kevin Warsh will lead policy effectively.
By CEO NA Editorial Staff
