Treasury Secretary Scott Bessent said Thursday that "I am not worried about inflation" resulting from President Donald Trump’s new tariffs, although he did acknowledge "we could get a one-time price adjustment.

The Biden administration’s trade policies face renewed scrutiny as Treasury Secretary Scott Bessent defends President Donald Trump's tariffs on Thursday. Speaking at the Economic Club of New York, Bessent framed the administration's trade measures as necessary to restore economic balance,

Key Takeaways Treasury Secretary Scott Bessent said the U.S. economy is starting to "roll a bit," acknowledging that financial markets have plunged amid uncertainty about President Donald Trump's trade policies in recent weeks.

The past week has been a whirlwind of economic and political news, with President Donald Trump’s tariff threats, Treasury Secretary Scott Bessent’s economic ‘detox’ remarks, and a federal judge’s block on Trump’s freeze of billions in congressional funds making headlines.

Bessent blamed “four years of disastrous policies,” for scorching inflation, claimed the current administration was working everyday to lower prices, and China would eat any tariffs.

Seven weeks after he took office and inherited an economy that was the envy of the world, the president himself is refusing to rule out a recession this year. “I hate to predict things like that,” Trump told Fox News anchor Maria Bartiromo in an interview on “Sunday Morning Futures.

Treasury Secretary Scott Bessent rejected the idea that President Donald Trump’s tariff hikes will ignite a new wave of inflation, and suggested that the Federal Reserve ought to view them as having a one-time impact.

President Donald Trump said Friday that he’s committed to making the U.S. a world leader in cryptocurrencies as industry leaders heaped praise on him for reversing what they said had been unfair attacks on digital assets by the previous administration.