U.S. media: The core agenda of Treasury Secretary nominee Basant is "3/3/3"

ChainCatcher news, AXIOS analyzes the core economic agenda of U.S. Treasury Secretary nominee Scott Bessenet's "3/3/3" policy guideline, which aims to reduce the budget deficit to 3% of GDP, achieve a 3% annual economic growth rate, and increase domestic oil production by 3 million barrels per day.

Currently, the U.S. deficit is expected to remain between 6% and 7% of GDP in the coming years, forming a spiraling upward trend that may pose a risk of significant interest rate increases, thus the first agenda will satisfy the "deficit hawks." Regarding the second agenda, the U.S. has historically achieved around 3% growth for a long time, but this goal may conflict with Trump's immigration restriction policies. As for the third agenda, U.S. oil production is currently around 13 million barrels per day, with a market oversupply, and energy executives have questioned the geological feasibility of further significant increases in production.