DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

Treasury Secretary Scott Bessent reminds CBS anchor about wrong inflation prediction: ‘Numbers are the best in 4 years’

June 1, 2025
in News, Politics
Treasury Secretary Scott Bessent reminds CBS anchor about wrong inflation prediction: ‘Numbers are the best in 4 years’
499
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Treasury Secretary Scott Bessent took a victory lap Sunday over recent inflation numbers that show a key benchmark hitting a four-year low, hailing it as vindication against the naysayers who predicted President Trump’s tariffs would cause prices to soar.

Bessent gently dinged CBS’ “Face the Nation” anchor Margaret Brennan for asking him skeptical questions in March about studies by the Peterson Institute and other groups that predicted tariffs would spur inflation.

“Margaret, when we were here in March, you said there was going to be big inflation. There hasn’t been any inflation,” Bessent shot back during an exchange about whether retailers will have less inventory or jack up prices.

Treasury Secretary Scott Bessent
Treasury Secretary Scott Bessent hailed the latest inflation data as evidence tariffs may not be as bad as economists predict. CBS News

On Sunday, Brennan pressed Bessent on a recent Wall Street Journal piece by famed Republican strategist Karl Rove, who ticked through the economics and math of tariffs and warned that they could cost the GOP its majorities in Congress.

“Actually, the inflation numbers are the best in four years. So why don’t we stop trying to say this could happen, and wait and see what does happen,” Bessent added about their exchange in March.

Last month, prices for consumers rose 2.3% over the year in April, down from 2.4% in March, marking the slowest year-over-year increase in over four years, according to the Labor Department’s consumer price index.

Notably, April is the month when Trump announced, then paused, much of his planned “Liberation Day” tariffs. Many economists believe that the US still hasn’t yet felt the full impact of those tariffs.

In March, during her interview with Bessent, Brennan pointed to studies warning that tariffs would put upward pressure on prices. Bessent shrugged off one of those studies, from the Peterson Institute, as “alarmist.”

Treasury Secretary Scott Bessent
The Treasury secretary was grilled by CBS over the potential impact of tariffs. CBS News

During that interview, Bessent defended the Trump administration’s announcement of an affordability czar who would look at the “five or eight areas where this administration can make a big difference for working-class Americans.”

On Sunday, the Treasury secretary also praised the Trump administration’s progress in bringing down prices for energy, eggs and food. He also cited a South China Morning Post story, which found that Chinese suppliers could have to eat up to 66% of the tariff costs.

Bessent also clarified that the Trump administration is seeking to “de-risk” from China with its push for a new trade arrangement with Beijing. Last week, Bessent acknowledged that deliberations with China have been “a bit stalled.”

Treasury Secretary Scott Bessent
Treasury Secretary Scott Bessent also clarified that the Trump administration’s goal is to “de-risk” from China. CBS News

“What we are trying to do is to de-risk. We do not want to decouple Margaret, but we do need to de-risk, as we saw during COVID, whether it was with semiconductors, medicines, the other products we are in the process of de-risking,” Bessent explained.

“What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe, and that is not what a reliable partner does.”

The post Treasury Secretary Scott Bessent reminds CBS anchor about wrong inflation prediction: ‘Numbers are the best in 4 years’ appeared first on New York Post.

Tags: InflationMediaScott BessentTariffstradeTreasury Department
Share200Tweet125Share
Jury deliberations near in Weinstein sex crimes retrial
Entertainment

Jury deliberations near in Weinstein sex crimes retrial

by Associated Press
June 4, 2025

NEW YORK (AP) — Jurors in ’s sex crimes are due to start deliberating Thursday, with dozens of witnesses, scores ...

Read more
News

Judge says migrants sent to El Salvador prison must get a chance to challenge their removals

June 4, 2025
News

Kenny Scharf and Hot Wheels Hit the Gas on “Karbombz” Thunderbird

June 4, 2025
Arts

Warner Bros. Discovery’s cable channels hit with layoffs

June 4, 2025
Business

California broke law in cutting rooftop solar incentives, state Supreme Court is told

June 4, 2025
Madison Police, Fire compete to get blood donations

Madison Police, Fire compete to get blood donations

June 4, 2025
Trump Administration to Pull $4 billion in Funding for California High-Speed Rail

Trump Administration to Pull $4 billion in Funding for California High-Speed Rail

June 4, 2025
Federal appeals court refuses to lift ruling halting mass layoffs at Department of Education

Federal appeals court refuses to lift ruling halting mass layoffs at Department of Education

June 4, 2025

Copyright © 2025.

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2025.