US EditionScott Bessent Projects 3% GDP Growth By 2025 End, Downplays Affordability Worries Amid Rising Incomes
Treasury Secretary Scott Bessent cited a 1% rise in real incomes and service sector inflation as reasons for the predicted 3% US GDP growth despite the government shutdown.
- On December 03, 2025, Treasury Secretary Scott Bessent predicted the U.S. economy will finish the year with 3% real GDP growth in interviews including CBS News' Face The Nation and the DealBook Summit.
- A government backlog delayed the third-quarter GDP estimate until just before Christmas, while recent inflation data showed consumer price index measures up 3% year-over-year, with food at home rising 3.1% and imported goods inflation at 1.8%.
- Citing income data, Scott Bessent said real incomes rose about one percent with a $94.5 billion increase in personal income in September, driven by service sector price pressures and holiday season strength.
- President Donald Trump said `The word 'affordability' is a con job by the Democrats` during a cabinet meeting, while a recent NBC News poll shows about two-thirds of voters see economic shortcomings.
- Looking ahead, forecasts diverge: Scott Bessent had predicted 5% GDP growth before the shutdown, Bank of America forecast projects 2.4% in 2026, and President Donald Trump recently signed an executive order investigating alleged price‑fixing with $12 Billion aid to farmers.
15 Articles
15 Articles
Bessent says US 'going to finish the year' with 3% GDP growth despite government shutdown
Treasury Secretary Scott Bessent said he expects the U.S. to end the year with a better-than-expected 3% gross domestic product (GDP) growth.Bessent appeared Sunday on CBS News' "Face the Nation" and was asked by host Margaret Brennan about whether President Donald Trump was wrong to predict this spring that Americans may buy "two dolls instead of the 30 dolls" and that "maybe the two dolls will cost a couple of bucks more than they normally wou…
Scott Bessent Projects 3% GDP Growth By 2025 End, Downplays Affordability Worries Amid Rising Incomes
Scott Bessent, the Treasury Secretary made a GDP forecast for the year end, downplayed concerns about inflation, attributing the rise in prices to the service economy rather than tariffs.
US Treasury Secretary Scott Bessent said on Sunday that consumers have spent a lot of money so far during the holiday season and predicted that the country's economy will end the year on a strong footing. Bessent therefore expects 3% growth this year.
Bessent says US poised for 3% GDP growth, claims Americans ‘don’t know how good they have it’
US Treasury Secretary Scott Bessent says the economy is outperforming expectations, forecasting 3% real GDP growth by year-end and highlighting a ‘very strong’ holiday shopping season.
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