PremiumBack when Trump was moving into the White House in late 2024, his Treasury Secretary Scott Bessent, who last week was in the headlines quite a bit more than he may have wanted, unveiled his "3-3-3" economic framework plane meant to stabilize and reduce the national debt relative to GDP through three core targets to be achieved by 2028: 3% GDP Growth: Reaching and maintaining an average annual real economic growth rate of 3%.3% Deficit Target: Lowering the federal budget deficit down to 3% of gross domestic product (GDP).3 Million Barrels of Oil: Increasing domestic daily oil production (or equivalent energy sources) by 3 million barrels
Hartnett On Bessent's 'Quasi QE: "Success is Expected, Failure Is Unthinkable"
"it would be extraordinary if the fresh round of QE fails and Bessent can’t drag 30-year yield below 5%...policy failure would cause US dollar slump, and asset allocation shift to short risk" - Michael Hartnett
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