Scott Bessent flags U.S. fiscal consolidation after deficit improvement
Treasury Secretary Scott Bessent told the House Financial Services Committee that the U.S. fiscal picture improved in fiscal 2026, with the federal deficit falling to about 5.7% to 5.8% of GDP, and signaled a next step toward more fiscal consolidation.
S. fiscal picture improved in fiscal 2026, but he signaled that the bigger market implication may be what comes next: further fiscal consolidation. 8% of GDP in fiscal 2026.