Economic growth will be slower this quarter amid war, US Treasury chief says
WASHINGTON: U.S. Treasury Secretary Scott Bessent said on Wednesday that the economy will be slower this quarter amid the Iran war, but it is in good shape and will rebound, adding that oil prices do not appear to be weighing on inflation expectations.
In an interview on CNBC, Bessent said micro data points on the U.S. economy were great and the Treasury Department would watch retail gasoline sales for consumers.
Also Read: IMF raises India FY27 GDP growth forecast to 6.5% even as the world stumbles through conflict
"We'll be looking at Treasury to try to keep the retail gas stations honest -- that you did this on the way up, better be doing this on the way down," he said.
In an interview on CNBC, Bessent said micro data points on the U.S. economy were great and the Treasury Department would watch retail gasoline sales for consumers.
Also Read: IMF raises India FY27 GDP growth forecast to 6.5% even as the world stumbles through conflict
"We'll be looking at Treasury to try to keep the retail gas stations honest -- that you did this on the way up, better be doing this on the way down," he said.
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