US Treasury Secretary Says Underlying Price Pressures 'Well Contained'
Deep News
Yesterday
US Treasury Secretary Bessent said in an interview, "Broadly speaking, prices are coming down, and underlying inflation is well contained."
Bessent indicated that the trade situation with Canada has had "virtually no impact" on US consumer prices. He added that the conflict with Iran, along with Ukraine's decision to "strike Russian energy infrastructure and refined fuel facilities," is placing upward pressure on energy costs.
Regarding Venezuela, Bessent noted that during the Maduro administration, Chevron CEO Mike Wirth did an "outstanding job" safeguarding the company's assets in the country, adding, "They are now navigating through the difficulties and moving into a new phase."
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