US Treasury secretary Scott Bessent has insisted the surge in inflation triggered by the Iran war will be a “short-term blip”, as Donald Trump’s administration attempts to contain mounting frustrations over the conflict.
Bessent told a congressional committee hearing on Wednesday that the burst of higher prices would be transitory as he defended the president’s handling of the economy.
“Except for inflation, which is, I believe, going to be a short-term blip, the economic data is very strong,” he said in response to questioning by members of the Senate finance committee.
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