CBS’s Brennan Gets Schooled on the Trump Economy by Treasury Sec Scott Bessent [WATCH]

Treasury Secretary Scott Bessent appeared Sunday on CBS’s “Face the Nation” to discuss the current state of the U.S. economy under President Donald Trump’s leadership, just over four months into the president’s second term.

In a wide-ranging interview with host Margaret Brennan, Bessent cited key indicators including falling inflation, lower fuel prices, and a projected decline in the federal deficit.

Bessent pushed back against recent claims of rising consumer costs, asserting that inflation is not only under control but actively decreasing.

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“We want to make sure that there aren’t price increases, Margaret, and thus far there have been no price increases,” Bessent said.

“Everything has been alarmist… The inflation numbers last week — they were very pro-consumer.”

The Treasury Secretary emphasized that recent data showed the first decline in inflation in four years.

Brennan responded by referencing earnings reports from major retailers such as Walmart, Best Buy, and Target.

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Bessent countered by citing alternative sources, including Home Depot and Amazon, and highlighted a recent report from the South China Morning Post, which noted that “65 percent of the tariffs will likely be eaten by the Chinese producers.”

.@SecScottBessent: “We wanted to make sure that there aren’t price increases, Margaret — and thus far, there have been no price increases. Everything has been alarmist. The inflation numbers are actually dropping. We saw the first drop in inflation in four years.” pic.twitter.com/asuc8YnHYZ

— Rapid Response 47 (@RapidResponse47) June 1, 2025

Bessent also referenced a decline in fuel prices as an additional positive signal.

Lower costs at the pump, he noted, are significant because they directly impact the transportation costs of goods across the economy, thereby affecting pricing across the board.

During a back-and-forth on economic forecasts, Brennan stated, “The reality is, there will either be less inventory or things at higher prices, or both.”

Bessent replied, “Margaret, when we were here in March, you said there was going to be big inflation. There hasn’t been any inflation. Actually, the inflation numbers are the best in four years. So, why don’t we stop trying to say this could happen, why don’t we wait and see what does happen.”

.@SecScottBessent: “When we were here in March, you said there was going to be big inflation. There hasn’t been any inflation. Actually, the inflation numbers are the best in four years. So why don’t we stop trying to say this COULD happen — wait and see what DOES happen.” 🔥 pic.twitter.com/1LeTZf2UX1

— Rapid Response 47 (@RapidResponse47) June 1, 2025

Current federal economic data supports Bessent’s claim of falling inflation.

Since President Trump took office in January, the inflation rate has not increased and has in fact declined.

Prices for goods like eggs, gasoline, and diesel fuel have moved downward, contributing to improved consumer sentiment.

Turning to the federal budget, Bessent also discussed efforts to rein in the deficit.

“One of the reasons I’m sitting here talking to you today and not at home watching your show is that I was concerned about the level of debts,” he said.

“So, the deficit this year is going to be lower than the deficit last year, and in two years it will be lower again. We are going to bring the deficit down slowly.”

Bessent added that reducing the national debt will take time.

“We didn’t get here in one year,” he said, emphasizing that the administration’s goal is to bring down the deficit steadily over the next four years.

.@SecScottBessent: “The deficit this year is going to be lower than the deficit last year — and it two years, it will be lower again. We are going to bring the deficit down slowly. We didn’t get here in one year.” pic.twitter.com/2eulQ8JG4V

— Rapid Response 47 (@RapidResponse47) June 1, 2025

The interview marks a key moment in the Trump administration’s messaging on economic policy as it seeks to contrast the current trajectory with the prior administration.

Since President Trump returned to office in January, his team has prioritized economic stabilization, lower inflation, and reducing federal spending.

While Bessent acknowledged the long-term nature of the country’s fiscal challenges, he expressed optimism that the administration’s strategy would ultimately put the U.S. on a path toward long-term fiscal sustainability.

Full segment:

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