U.S. Treasury Secretary Sees 3% GDP Growth Possible This Year as Economy Poised to Recover on June 24

According to U.S. Treasury Secretary Scott Bessent on CNBC on June 24, the U.S. economy is poised to achieve 3% GDP growth this year as geopolitical tensions ease. Bessent expressed confidence in the economy's fundamentals, noting that growth approached 4% earlier in 2026 before being dampened by military operations in the Middle East.

However, recent economic data has been weaker than expected. U.S. GDP grew at an annualized rate of 1.6% in the first quarter of 2026, up from 0.5% in the previous quarter, while full-year 2025 growth was 2.1%. Bessent also emphasized reducing the fiscal deficit to around 3% of GDP by the end of Trump's term, compared to the current 5.8%.