Bessent Seeks Global Growth Boost Through Regulatory Reset
US Treasury Secretary Scott Bessent called for dismantling regulatory, tax, and investment barriers hindering global economic growth during a G20 financial meeting in Asheville, North Carolina. He listed excessive regulatory burdens, poorly designed financial incentives, and internal market fragmentation as key impediments. Bessent said the US was addressing these constraints under President Donald Trump's administration.
The Treasury Secretary highlighted tax, energy, and regulatory certainty as drivers of economic expansion. He welcomed reforms adopted by other G20 members to raise growth and involve the private sector in policymaking. Bessent also thanked G20 members for their contributions to this effort.
Federal Reserve Chairman Kevin Warsh said stronger growth was a policy choice and that the US economy appeared to be gaining momentum. He emphasized the importance of looking beyond consumer spending and immediate demand to assess changes on the economy's supply side.