Scott Bessent: “Inflation is going to come back down. It's largely dominated…”

“What I say to those families is what I've been saying since the Iran conflict started. We're going to get to the other side of this. Inflation is going to come back down. It's largely dominated by gasoline in many states. We're back to around 3, 350. I think we can get back to $3, hopefully maybe by Labor Day. But we had had before April, we had seen real wage growth for working Americans every month during President Trump's presidency.” (01:45–01:53)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.