US growth could top 3% despite Iran war, says Treasury chief Scott Bessent, pushes back on IMF downgrade
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US Treasury Secretary Scott Bessent predicts the US economy could grow over 3% this year despite global disruptions from the Iran conflict. Bessent also pushed back against the IMF's recent downgrade of global growth forecasts, saying they probably overreacted.
The US economy remains strong despite global volatility. Treasury Secretary Scott Bessent says growth could exceed 3% this year. The Iran conflict has disrupted oil supplies, pushing up energy prices. However, Bessent believes the US is better positioned to absorb short-term price shocks. The IMF and World Bank have trimmed global growth forecasts due to the conflict. Bessent also signalled that tariffs could be reinstated by July.
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