U.S. economy will be growing faster than 3% this time next year, predicts Treasury’s Bessent 

Quick Summary:

A combination of pro-growth trade policies, tax cuts and deregulation will soon lead to a pickup in activity, according to the Trump administration, following a 0.3% annualized contraction in the first quarter.

Relations between Trump and the government in Berlin traditionally have been very poor—a fact not helped by vice-president JD Vance scolding the state in February for shutting out the far-right nationalist AfD party.

The Trump administration expects U.S.growth to bounce right back in the coming 12 months after a first-quarter contraction, as the benefits of its economic agenda takes root.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United States

Topics: Banks Donald Trump National debt U.S. economy Housing Freddie Mac Government debt U.S. Department of the Treasury U.S. debt Real Estate Germany Congressional Budget Office Tariffs and trade Fannie Mae Taxes Europe Mortgage rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-26 @ 12:30:18 (1 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 1030 words

Reading Time: 6 minutes read

Sentences: 5 lines

Sentence Length: 206 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28976783

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Official Website: fortune.com

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Coverage Areas: United States

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