Washington, United States. US Treasury Secretary Scott Bessent said on Wednesday that the economy will be slower this quarter amid the Iran war, but remains in good shape and will rebound. He added that oil prices do not appear to be weighing on inflation expectations.
Comments on growth and inflation
In an interview on CNBC, Bessent said micro data points on the US economy were strong and that oil prices did not appear to be affecting inflation expectations.
Treasury monitoring of gasoline sales
Bessent said the Treasury Department would watch retail gasoline sales for consumers, adding that officials would seek to ensure retail gas stations reflect declines after increases.
How do you expect retail gasoline prices to change if oil prices fall further?
