Core Insights - U.S. Treasury Secretary Scott Bessent expresses optimism for consumers, predicting price relief in the near future, particularly in 2026 and 2027 [1] - Bessent claims the affordability crisis is under control, attributing this to the reduction of inflation and declining energy prices, with expectations for consumer price index (CPI) numbers to decrease soon [2] Economic Indicators - The Bureau of Labor Statistics is set to release the September consumer price index report, with economists expecting a year-over-year increase of 3.1% [2] - The University of Michigan survey indicates consumer sentiment remains steady at 55 for October, with inflation expectations for the next year slightly decreasing to 4.6% [5] - The second-quarter GDP growth rate was reported at an annualized 3.8%, with Bessent noting that tax policy changes have yet to fully impact the economy [6] Tax Policy and Consumer Impact - Bessent highlights tax policy changes, including no tax on tips, overtime, and Social Security, which are expected to benefit working Americans [7] - Substantial tax refunds for working Americans are anticipated in the first quarter of the following year, leading to real income increases [8] Budget Deficit Management - Bessent emphasizes the need to control spending and achieve nominal growth to improve the deficit-to-GDP ratio, which is currently at a concerning level [9]