US Treasury Secretary Scott Bessent Discusses Economic Growth, Inflation Trends, and New Investment Initiative

Source: CryptoNewsNet Original Title: U.S. Treasury Secretary Scott Bessent Makes Hot Statements About the U.S. Economy Original Link: https://cryptonews.net/news/finance/32098559/ US Treasury Secretary Scott Bessent made noteworthy assessments of the American economy during his appearance on a major news program.

Bessent stated that the economy is “in better shape than they expected,” with expectations of 3 percent real GDP growth by the end of 2025. He highlighted that real incomes increased by about 1 percent and that the economic outlook is more positive than previously thought.

Bessent noted that holiday shopping was strong and that warnings of price increases hadn’t fully materialized. When addressing inflation concerns, he explained that price increases were largely driven by the service sector, while price increases for imported goods were lower.

Regarding public perception, Bessent acknowledged polls showing 60% of Americans believe inflation statements are better than reality, and that the president’s approval rating on the economy stands at 36%. He attributed this partly to media rhetoric, stating: “There are two components to purchasing power: inflation and real income. Real incomes are rising.”

Bessent noted that energy and regulatory challenges fueled inflation in the previous period. He highlighted that the “ordinary person index,” reflecting the working class, has fallen below the general inflation rate for the first time, and predicted inflation will fall more sharply in 2026.

On agricultural matters, Bessent discussed an agreement with China involving 12.5 million tons of soybeans, with prices increasing 12-15 percent since the agreement. He explained that China is proceeding according to the established schedule and that support programs for farmers address delays in the purchasing timeline.

Bessent also announced a new initiative: “Trump accounts.” Under this plan, the federal government will open a $1,000 investment account for every US citizen born between 2025 and 2028. These accounts will be invested in a low-cost index fund, with children able to access the funds or save for retirement when they turn 18.