POLITICS NEWS – Trump’s treasury secretary pick, Scott Bessent, introduces new Japan strategy

Laila Kirkpatrick, Staff Writer

President-elect Donald Trump has nominated Scott Bessent to head the Treasury Department. Recently, Bessent unveiled his strategy to address deflationary pressures in the U.S. economy. His plan was inspired by Japan’s “Three Arrows” strategy, which aimed to restructure the economy through monetary easing, increased government spending, and economic reforms.

Bessent’s version of the plan includes goals such as increasing GDP growth to 3%, reducing the budget deficit to 3%, and boosting U.S. energy production by 3 million barrels of oil per day. He is known for his interest in economic theories and systems of this nature.

However, critics point out that Trump’s proposed policies could add an estimated $15 trillion to the budget deficit, raising concerns about the feasibility of Bessent’s approach.