U.S. Economy Resilient Amid Iran Conflict, Says Treasury Secretary

U.S. Treasury Secretary Scott Bessent expressed confidence in the U.S. economy, which is expected to slow this quarter due to the Iran conflict but is overall in good shape. Bessent emphasized monitoring retail gasoline sales to ensure fair pricing amidst fluctuating oil prices.

The U.S. economy is poised for a slowdown this quarter as the Iran conflict unfolds, yet remains fundamentally robust, according to Treasury Secretary Scott Bessent.

Speaking on CNBC, Bessent highlighted the underlying strength of microeconomic data, underscoring the Treasury's role in monitoring retail gasoline sales to ensure stations reflect true market conditions.

He emphasized that just as prices increased, they should fairly decrease, indicating vigilant oversight from the government.