Treasury secretary predicts blockbuster 2026 for US economy as Dow hits historic milestone

The Trump economy is beginning to deliver, and Americans are poised to see the benefits, according to Treasury Secretary Scott Bessent. He pointed to cooling inflation and record market highs as signs that "Main Street is about to prosper."

Bessent said current market trends reflect growing confidence in President Donald Trump's policies. He described them as having "set the table" for economic gains in 2026.

It comes as many Democrats have criticized Trump's economic policies, including concerns about affordability and the potential impact of tariffs on consumer prices.

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"The president's plan is working. The Trump economy is delivering for the American people," Bessent said on "Sunday Morning Futures."

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He noted the economy is experiencing 'strong growth' and that inflation is easing toward the Federal Reserve's 2% target.

Bessent also pointed to record highs across the stock market, including gains in industrial and small-cap stocks. He said those trends typically signal broader economic expansion is on the way.

On Friday, the Dow Jones Industrial Average closed above 50,000 points for the first time. Trump reacted to the milestone on Truth Social, writing, "The Dow Jones Industrial Average just hit 50,000 for the first time in History. CONGRATULATIONS AMERICA!"

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Bessent said Democrats are overlooking what he described as signs of a strong economic year ahead. He argued the success of Wall Street is an indicator that "Main Street is about to prosper."

"We are seeing a big cyclical recovery. The president's agenda set the table in 2025, and now the American people are going to benefit in '26," he said.

"The stock market lives in the future, and I think we're [going to] have very strong economic growth and very strong job gains and very strong real income growth."

Bessent said those gains will increasingly show up in household finances. Earlier this year, he noted that Americans could see "substantial refunds" and bigger paychecks as the administration's agenda continues to take effect.