Treasury Secretary Scott Bessent expressed optimism for the U.S. economy despite a period of weak job growth and rising unemployment. He predicted that the economy would accelerate by the fourth quarter, citing the administration’s pro-business policies, including the One Big Beautiful Bill Act, as key drivers for future growth. Bessent emphasized that businesses are planning to increase capital expenditures and hire more workers, suggesting that these investments will strengthen sectors such as construction and manufacturing.
The economic context presents significant challenges. Job growth has been slow, with only 22,000 positions added in August and an unemployment rate of 4.3 percent. Manufacturing companies like John Deere have laid off employees due to the impact of tariffs, while consumers are facing rising prices. Democrats have criticized the administration for its handling of the economy, while some Republicans have focused on Federal Reserve policies as a source of concern. Bessent dismissed the idea that tariffs are harming the economy, framing them instead as beneficial for certain businesses, but overall data suggest that achieving these optimistic projections may require overcoming persistent economic obstacles.
https://www.politico.com/news/2025/09/07/bessent-predicts-substantial-accelaration-economy-00549806
Bessent sounds really confident about a turnaround, but with layoffs, slow job growth, and rising prices still in play it feels like a tough hill to climb. Do you think businesses will actually follow through on those investments and hiring plans?
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