Scott Bessent Faces Heated Questions on Tariffs and Conflicts of Interest

Congressional Hearing on Tariffs and Inflation

• 🏛️ Treasury Secretary Scott Bessent engaged in a testy exchange with Congresswoman Maxine Waters regarding President Trump's tariffs and their potential inflationary impact.
• 🗣️ Waters questioned if Bessent would urge the administration to halt policies she believes are harming consumers and the economy, to which Bessent responded by citing a San Francisco Federal Reserve study suggesting tariffs have not historically caused inflation.
• 📉 The discussion touched upon the price of lumber, with Bessent noting it has remained relatively stable, though this point was overshadowed by the more dramatic exchange.

Scrutiny of Business Interests and Conflicts

• 💼 Congressman Gregory Meeks questioned Bessent about President Trump's business interests and requested a pause on bank charter applications connected to World Liberty Financial until conflicts of interest are reviewed.
• 📢 Meeks accused Bessent of