Read, Watch or Listen

Treasury Secretary Scott Bessent downplayed inflation concerns stemming from Trump administration tariffs, citing a "worst-case scenario" from Walmart CEO Doug McMillon. Bessent emphasized the decline in gas prices and Walmart's ability to absorb some tariff costs. He dismissed Moody's downgrade of US debt and touted Trump's "strategic uncertainty" as a negotiating tactic. While acknowledging potential tariff impacts, Bessent predicted inflation would remain in line, contrasting it with the high inflation under Biden's administration. Trump urged Walmart to absorb tariff costs, while Bessent claimed the retailer provided a worst-case scenario due to legal obligations. Ongoing tariff negotiations with various countries continue.

Prepared by Christopher Adams and reviewed by editorial team.