Bessent: Trump Policies to Drive Fourth-Quarter Economic Boom/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Treasury Secretary Scott Bessent predicted Sunday that the U.S. economy will accelerate by the fourth quarter. Despite rising inflation and weak jobs data, he insisted Trump’s policies will spur high-paying jobs. Upcoming inflation reports will test whether the administration’s optimistic forecast holds true.
Bessent Forecasts U.S. Economic Acceleration by Year-End – Quick Looks
- Treasury Secretary Scott Bessent says economy will “take off” in Q4
- Claims weak jobs data is inaccurate and improperly collected
- Trump fired BLS commissioner after August report on rising unemployment
- Administration insists policies will deliver “good, high-paying jobs”
- U.S. economy: -0.5% in Q1, +3.3% in Q2
- Atlanta Fed GDPNow projects 3% growth in Q3
- Recession odds hit record low on prediction market Polymarket
- CPI and PPI reports due this week may shift outlook
- Trump administration disputes official economic data amid political tensions
- Investors split on whether growth rebound will materialize
Deep Look: Bessent Predicts U.S. Economy Will Accelerate Despite Rising Inflation and Weak Jobs Data
WASHINGTON, D.C. — Treasury Secretary Scott Bessent expressed confidence Sunday that the U.S. economy will accelerate sharply by the fourth quarter, despite mounting concerns about inflation and a weakening labor market.
Speaking on NBC’s Meet the Press, Bessent defended the Trump administration’s economic agenda and dismissed recent data suggesting softness in hiring and price stability.
“We Believe Growth Is Coming”
“We believe that good policies are in place that are going to create good, high-paying jobs for the American people,” Bessent said.
He argued that the administration’s tax, trade, and deregulatory policies will soon bear fruit, even as government statistics point to a less robust reality.
“President Trump was elected for change, and we are going to push through with the economic policies that are going to set the economy right,” he added.
Bessent predicted a “substantial acceleration” in economic growth by the fourth quarter of 2025.
Administration Challenges Jobs Data
Bessent also cast doubt on last week’s weaker-than-expected jobs report, which extended recent losses in the labor market. He suggested the numbers were not only flawed but improperly collected.
President Donald Trump, who has long criticized federal statistics he dislikes, fired the commissioner of the Bureau of Labor Statistics after the August jobs report. Trump alleged, without evidence, that the agency was “rigging the numbers” against him.
Bessent echoed that skepticism, saying the reported slowdown in hiring did not align with what the administration sees in real-time private sector data.
By the Numbers: Economy on a Roller Coaster
The U.S. economy’s performance this year has been uneven:
- Q1 2025: GDP contracted by 0.5%, raising fears of recession.
- Q2 2025: GDP rebounded with 3.3% growth, easing concerns.
- Q3 projection: The Atlanta Fed’s GDPNow model forecasts growth slowing modestly to 3%.
Financial markets remain divided. On the Polymarket prediction platform, recession odds for 2025 hit an all-time low last Friday, suggesting at least some investors share Bessent’s optimism.
Upcoming Inflation Reports Loom Large
Still, doubts linger. Inflation has been running hotter than the Federal Reserve’s 2% target, raising questions about whether growth can accelerate without triggering more price instability.
Two critical indicators — the Consumer Price Index (CPI) and the Producer Price Index (PPI) — are due this week. Analysts say those reports will provide a clearer picture of whether Bessent’s upbeat forecast is realistic or premature.
Trump’s Economic Vision and the Politics Behind It
Bessent’s remarks reflect the Trump administration’s broader messaging: that media reports and federal data understate economic strength while overlooking the benefits of Trump’s policies.
Critics argue the administration is cherry-picking favorable numbers while dismissing official statistics that complicate the narrative. Supporters counter that government agencies have historically underestimated growth recoveries tied to tax cuts and deregulatory measures.
The clash comes as the administration faces political pressure to demonstrate economic momentum amid turbulence in financial markets and skepticism from independent economists.
The Road Ahead
Whether Bessent’s prediction proves correct will depend heavily on:
- Inflation data this week (CPI and PPI)
- Consumer spending trends going into the holiday season
- Corporate hiring decisions as growth expectations shift
- Federal Reserve policy responses to mixed signals
For now, the administration insists confidence is justified. “I believe by the fourth quarter we are going to see a substantial acceleration,” Bessent said.
The coming months will reveal whether that confidence is warranted or misplaced.
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