Global EconomyOctober 5 at 08:57 PM

US Treasury Secretary Bessent says underlying, core inflation is down to around 2.3% and that interest rates are all a function of headline inflation, adds mortgage rates will come back down after Iran conflict

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Bessent cited around 2.3% core inflation, anticipated Q3 growth above 3%, discussed debt and tariff income, and linked mortgage-rate remarks to the Iran conflict.

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Says: Inherited a big stack of debt. Think going to see in excess of 3% growth for Q3. Could start bending the debt curve very quickly. Had to send back USD 180bln of tariff income, which was a one-time hit. Spoke with European counterpart today regarding China and tariffs. US economy is accelerating.

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US Treasury Secretary Bessent says underlying, core inflation is down to around 2.3% and that interest rates are all a function of headline inflation, adds mortgage rates will come back down after Iran conflict

News detail

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