Bessent Says Housing Will ‘Unfreeze’ in Weeks, Sees 2% Inflation
- Treasury secretary says it is Trump’s economy in 6-12 months
- ‘We’re still living through this Bidenflation,’ Bessent says
Concerns that inflation will remain sticky have stoked worries about longer-term borrowing costs also remaining notably higher than prior to the pandemic.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Treasury Secretary Scott Bessent said he expects the US housing market to pick up steam after recent indicators came in below forecasts, and sees potential for inflation to return to the Federal Reserve’s 2% target “quickly.”
“We’re still living through this Bidenflation” for now, Bessent said Friday in an interview with Bloomberg Television’s David Westin, referring to the Trump administration’s contention that former President Joe Biden drove up consumer prices with his economic policies.