Treasury Secretary: Tariffs do not cause inflation

Treasury Secretary Testifies on Inflation

Treasury Secretary Scott Bessent testified before the House Financial Services Committee, asserting that tariffs do not drive inflation. His comments come amid ongoing debates regarding economic policies and their impact on consumer prices.

Focus on Economic Policies

Bessent emphasized the importance of understanding various factors contributing to inflation beyond tariffs. He highlighted the need for comprehensive economic strategies to address rising costs effectively.

Committee’s Role in Economic Oversight

The House Financial Services Committee plays a crucial role in overseeing economic policies and their implications. Bessent’s testimony aims to clarify misconceptions about tariffs and inflation, guiding future legislative actions.