Bessent Says Trump Policies Will Bring Inflation Down

U.S. President-elect Donald Trump's policies will help bring inflation back down and allow workers' wages to rise, Trump's choice to head the Treasury Department testified Thursday.

"I believe that they will increase real wages and lower inflation closer to the Federal Reserve's 2% target, as it did during President Trump's first administration," Scott Bessent told the U.S. Senate Finance Committee.

Asked if any of the president-elect's planned policies will raise prices for families, he said, "nothing I can immediately think of."