Bessent says Treasury is pressuring gasoline retailers to lower prices and seeing positive response from major retailers.
“We're telling them we're watching them. And we've had some good uptake from some of the bigger retailers in terms of what they want to do for consumers.”
Bessent forecasts real wage gains could return as soon as this month after inflation spike.
“I would expect that perhaps as soon as this month, we're going to see real wage gains.”
Bessent expects real wage growth to resume as soon as next month after April spike.
“But we had had before April, we had seen real wage growth for working Americans every month during President Trump's presidency, and I would expect maybe even as soon as next month we will go back to that.”
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post Bessent cites core inflation at 2.5 percent moving toward Fed's 2 percent target
https://x.com/SecScottBessent/status/2088270366468682121