Bessent Deflects Inflation Concerns, Sees Better Times in 2026

US Treasury Secretary Scott Bessent deflected concerns about high costs under President Donald Trump, saying the administration had inherited elevated price levels and that its policies would generate real income gains for American workers.

“We inherited an affordability crisis,” Bessent said on MSNBC Tuesday, adding that inflation was the worst in 40 or 50 years under President Joe Biden. “We have slowed the price increases down, and they are going to continue to slow down.”

US Treasury Secretary Scott Bessent

Photographer: Eric Lee/Bloomberg

Bessent spoke a week after Democrats won several key elections by zeroing in concerns over the cost of living, including housing, groceries, ...