Treasury Secretary Scott Bessent said Wednesday that U.S. GDP growth can return to 3% [1] before the end of the year.
This projection signals the administration's confidence in its current economic trajectory. If achieved, such growth would indicate a strong recovery and the potential success of the Treasury's specific fiscal targets.
Bessent said during an interview on CNBC’s Squawk Box program that he linked this outlook to his "3-3-3" plan. The strategy outlines three specific goals: returning GDP growth to 3% [1], reducing the deficit-to-GDP ratio to 3% [1], and increasing oil production by three million barrels per day [1].
Bessent said these targets remain within reach. The plan focuses on a combination of energy expansion and fiscal discipline to stabilize the broader economy, a move intended to foster long-term sustainability.
By emphasizing the three million-barrel-per-day increase in oil production [1], the Treasury Secretary highlighted the role of energy independence in driving domestic growth. The administration views the energy sector as a primary engine for reaching the 3% GDP mark [1] by the close of the year.
Bessent said the deficit-to-GDP ratio goal of 3% [1] is a critical component of the plan. This fiscal target is designed to balance economic stimulation with a reduction in the national debt burden.
“U.S. GDP growth can return to 3% before the end of the year.”
The '3-3-3' plan represents a coordinated effort to align energy output, fiscal restraint, and economic expansion. By tying GDP growth to specific oil production and deficit targets, the Treasury is signaling that it views energy deregulation and debt management as the two primary levers for macroeconomic stability.
