News about Scott Bessent

Treasury Secretary Scott Bessent told NBC's Meet The Press that energy prices would fall once the Iran conflict ends, but he did not say when hostilities would stop. Inflation reached 3.7% in September, a five-month high driven by energy and gas prices, while food was flat, prescription drug prices fell and median rents were 0.4% lower year on year, according to Apartment List. The national average gas price was about $4.30 per gallon as of October 18, versus about $2.98 at the start of the Iran war. Bessent defended the administration's waiver of Russian sanctions, citing sanctions on Rosneft and Lukoil, and called Zelensky's claim that the U.S. restricted Ukraine's Starshield access 'reckless' and untrue. Asked whether the U.S. considers Ukraine an ally, he avoided a direct answer and said such matters belong to the president or the secretary of state.