2026년 2월 7일 · Unknown · financial · 출처 Yahoo Finance
This article first appeared on GuruFocus.
Treasury Secretary Scott Bessentdid something you don't hear very often in Washington. He admitted he was wrong.
Speaking before the House Financial Services Committee, Bessent said he had misstated the impact of tariffs when he previously argued they would fuel inflation. That view was also laid out in a 2024 letter from his firm, Key Square Group, to investors. This week, he openly walked it back. If I was mistaken, I want to correct it, Bessent said, adding that tariffs ultimately didn't push prices higher.
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He pointed to research from the San Francisco Fed, saying inflation simply never showed up despite tariffs being in place. In his words, tariff driven inflation was the dog that didn't bark. Instead, Bessent argued that rising housing costs have been driven more by immigration pressures, citing a Wharton study.
He also noted that the economy has grown at a 4.1% pace over the past three quarters while inflation has continued to ease.
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