Part 13/16:
On inflation, he argued that current pressures are uneven and primarily concentrated in services, not driven by tariffs. He expressed confidence that inflation expectations remain anchored, and trade negotiations, including tariff reductions, are positively influencing prices.
The dollar's recent decline was attributed to fiscal policy uncertainties and global rate movements. Bessent noted that recent low rates in Japan and other countries have not mirrored the dollar trend, which has been impacted by political and policy developments in the U.S., including tax certainty and strategic trade adjustments.