US economy will grow 'north of 3%' by this time next year, predicts Treasury Secretary Scott Bessent

The US administration led by President Donald Trump expects America’s growth to bounce back in the next 12 months, after the country recorded a muted growth in the first quarter, Treasury Secretary Scott Bessent said. In an interview with Bloomberg TV, Bessent said that the contraction of growth in the first quarter of the current financial year will reverse this time next year as the economic agenda of the US takes root. The top official predicted that Donald Trump’s pro-growth trade policies, tax cut agenda and deregulation will together result in a pickup in activity soon. "I expect certainly by…