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Bessent: There's a ‘very good chance’ budget deficit has peaked

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Treasury Secretary Scott Bessent said there's a “very good chance” the U.S. budget deficit has peaked under President Donald Trump.

The monthly U.S. budget deficit topped $432 billion in July. That was its highest level in more than half a decade.

The Trump administration additionally is working on fiscal consolidation measures, Bessent said.

Read more from CNBC.

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