US Treasury Secretary Bessent: Inflation is “very tame”

The US Treasury Secretary Scott Bessent said in a Bloomberg TV interview that the economy could see lower rates in the current context of tame inflation.

Key Quotes

He is confident that the fiscal policy bill will progress in the coming hours.

'This is a start' in controlling US debt.

The Republican budget bill will help grow the economy while controlling and bringing down expenses.

We could see a lowering of rates; inflation is 'very tame'.

Asked about speculation over the Fed chair, Bessent said he will do whatever the president wants, but he has the best job in Washington.

We have given consideration to the January Fed board appointee who could eventually become chair.

The Fed made a 'gigantic' mistake in 2022 on rates.

We have seen no inflation from tariffs; there could be a one-time price adjustment.

There will be a 'flurry' of trade deals going into the final week before the July 9 deadline.