Scott Bessent says economic activity may moderate in the near term but maintains outlook for recovery and stable inflation expectations.
By yourNEWS Media Newsroom
U.S. Treasury Secretary Scott Bessent said the pace of economic growth is expected to slow in the current quarter, attributing the shift in part to the ongoing conflict involving Iran, while maintaining that broader economic conditions remain stable.
Speaking in an interview with CNBC, Bessent said underlying economic indicators continue to show strength despite near-term pressures. He pointed to favorable micro-level data as evidence that the overall economy remains in solid condition and positioned for a rebound.
Bessent also addressed concerns about inflation, stating that current oil price movements have not significantly altered expectations. He indicated that the Treasury Department is monitoring fuel markets closely, particularly retail gasoline pricing.
“We’ll be looking at Treasury to try to keep the retail gas stations honest — that you did this on the way up, better be doing this on the way down,” Bessent said.
The secretary’s comments reflect ongoing federal monitoring of energy costs and consumer price impacts as geopolitical developments continue to influence market conditions.
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