- Bessent expressed optimism about the U.S. economy this year, saying that while “2025 was about setting the table, 2026 is going to be a banquet for the American people.”
- Regarding the infrastructure buildout, the Treasury Secretary noted that, unlike in financial markets, there is a lead time for setting up factories.
- Citing the rise in construction jobs and commitments to build factories, Bessent stated there will be a “lot of factory completions” in 2026.
Treasury Secretary Scott Bessent reportedly said on Friday that the Trump administration wants to de-risk rather than decouple from China.
“For President Trump, it’s a dual strategy here. We want to engage with the Chinese, we want fair trade,” said Bessent during an interview with CNBC.
The Treasury Secretary added that free trade with China was unfair and that American workers were wiped out in the process.
2026 Is Going To Be A Banquet For Americans, Says Bessent
The Treasury Secretary expressed optimism about the U.S. economy this year, saying that while “2025 was about setting the table, 2026 is going to be a banquet for the American people.”
As for the infrastructure buildout, Bessent said that, unlike in financial markets, there is a lead time for setting up factories. Citing the rise in construction jobs and commitments to build factories, the Treasury Secretary stated in the interview that he expects a “lot of factory completions” in 2026.
Bessent Questions CBO’s Deficit Projections
The Treasury Secretary also questioned the Congressional Budget Office’s projections about the fiscal deficit, stating that he does not know what the CBO is thinking.
“The CBO missed what went on in the last year, so if they can’t do the near year, how can they do 10 years out?” he said in the interview.
The CBO on Wednesday projected the deficit at $1.9 trillion for fiscal year 2026, expecting it to soar to $3.1 trillion by 2036.
The Treasury Secretary expressed optimism about the U.S. economy this year, saying that while “2025 was about setting the table, 2026 is going to be a banquet for the American people.”
Meanwhile, U.S. equities gained in Friday’s opening trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up by 0.44%, the Invesco QQQ Trust ETF (QQQ) rose 0.46%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.37%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.
The iShares 7-10 Year Treasury Bond ETF (IEF) was up by 0.39% at the time of writing.
Also See: CPI Could Come In Hotter Than Expected, Warn Experts: 'The Devil Will Be In The Details'
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