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U.S. Treasury Secretary Bessen Expects Energy-Driven Inflation to Reverse, Core CPI Continuing to Fall

Commodities Forex

2026-05-14 21:57:29

CORE0.46%

VOID4.70%

UP1.51%

U.S. Treasury Secretary Scott Bessent predicts that inflation pressures will ease quickly, even as energy-driven price spikes are likely to reverse. Speaking ahead of new Federal Reserve Chair Kevin Warsh's appointment, Bessent noted that supply shocks lack longevity. "There's nothing more temporary than a supply shock," he said, adding that core inflation has already been declining before the recent Iran-related disruptions. He expects core inflation to continue falling as U.S. oil production ramps up.

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