Treasury Secretary Scott Bessent acknowledged Tuesday on Newsmax that Americans are still straining under high prices but said the Trump administration is attacking the affordability crisis by driving down energy costs and mortgage rates while pushing for stronger wage growth.
Bessent told “Rob Schmitt Tonight” the country is still living with the fallout from the post-COVID inflation surge when prices jumped at the fastest pace in four decades.
Consumer prices rose 9.1% in the 12 months through June 2022, the highest reading since 1981, before easing to about 3% this fall, according to Labor Department data.
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