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.
“I’ve agreed not to talk about prospective Fed policy going forward, “ Bessent said while answering questions after a speech at the Economic Club of New York. Still, “I would hope that the failed ‘Team Transitory’ could get back together and think that nothing is more transitory than tariffs if it’s a one-time price adjustment.”
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