Summary
- US Treasury Secretary Scott Bessent said the war involving Iran could slow US economic growth in the second quarter this year.
- Bessent said the economy remains in good shape, growth will rebound, and oil prices are not weighing on inflation expectations.
- Bessent said the Treasury Department will monitor oil prices and examine how retail gas stations reflect them in pricing.
Forecast Trend Report by Period
US Treasury Secretary Scott Bessent said the war involving Iran may slow US economic growth in the second quarter.
Bessent told CNBC on June 15 that the conflict would weigh on growth this quarter. He said the economy remains in good shape and growth will rebound. Oil prices do not appear to be putting pressure on inflation expectations.
He also stressed the need to monitor oil prices. The Treasury Department will watch whether retail gas stations are reflecting prices fairly. If stations raised prices when oil climbed, they should lower them when oil falls.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
