U.S. Treasury Secretary Scott Bessent said this month that the U.S. economy is improving and predicts strong growth through 2027.
These statements aim to reassure public markets and consumers amid ongoing concerns regarding inflation, gasoline prices, and the broader economic outlook.
During an address at the Reagan National Economic Forum on May 5, 2026 [2], Bessent highlighted the resilience of the American consumer. He said that Americans are utilizing their savings to sustain economic activity. He also sought to quiet fears regarding energy costs, saying that the extra gasoline cost to consumers will be less than $200 [1].
Bessent said that oil prices will drop and inflation will ease. He described oil inflation as "transitory" [3]. This optimistic outlook extends into the next two years, with the secretary saying, "2026, 2027 are going to be great years" [4]. He attributed this projected success to the impact of tax reforms.
Beyond domestic concerns, Bessent has emphasized international economic stability. During a visit to Tokyo on May 13, 2026 [3], he praised the Japanese economy. He said the fundamentals of the Japanese economy are strong and resilient [3].
The Treasury Secretary's recent communications reflect a strategy to maintain market confidence through a combination of domestic tax policy and international diplomacy. By addressing specific consumer pain points, such as the cost of fuel, the administration is attempting to frame the current economic transition as a period of temporary volatility leading toward sustained growth.
“"2026, 2027 are going to be great years."”
Bessent's projections suggest the Treasury is betting on a 'soft landing' where inflation eases without a significant recession. By linking future growth to tax reforms and dismissing oil price spikes as transitory, the administration is signaling a policy preference for supply-side incentives to drive the 2026-2027 expansion.
