Bessent Says Housing Will ‘Unfreeze’ in Weeks, Sees 2% Inflation

Treasury Secretary Scott Bessent said he expects the US housing market to pick up steam after recent indicators came in below forecasts, and sees potential for inflation to return to the Federal Reserve’s 2% target “quickly.”

“We’re still living through this Bidenflation” for now, Bessent said Friday in an interview with Bloomberg Television’s David Westin, referring to the Trump administration’s contention that former President Joe Biden drove up consumer prices with his economic policies.

“Over the next six to 12 months, as we deregulate, drill more American energy” and bring certainty to extending the 2017 tax cuts, “we ...