Treasury Secretary Scott Bessent said Thursday there is a "very good chance" the federal budget deficit has peaked under President Donald Trump.

Bessent asserted the claim during an appearance on CNBC's "Squawk on the Street." The comments came one day after his department moved to at least double the maximum size of its buybacks.

The statement highlights the administration's focus on fiscal management as it works to address the nation's borrowing needs. Officials have emphasized efforts to stabilize debt markets through targeted operations.

Bessent's remarks align with broader administration priorities on economic growth and spending restraint. Supporters point to recent policy actions as evidence of improved fiscal trajectory.

Markets reacted positively to the news of expanded buybacks, with traders noting increased liquidity in certain segments. The Treasury's move is intended to support orderly functioning in debt auctions.

The deficit discussion occurs amid ongoing debates over federal spending levels and revenue policies. The administration continues to prioritize measures aimed at long-term sustainability.

Bessent is scheduled for additional media appearances in the coming days to elaborate on Treasury operations.