“This is the perfect storm,” Bessent responded to a question about the possibility of $10-per-pound beef next year. “We inherited this terrible inflation. We are flattening it out. I believe we’re going to push it down, and energy prices are down, interest rates are down. But the real thing that is going to happen [is] that [this] is going to give Americans real purchasing power increases. It’s going to be through growth.”<\/p>\n
Bessent also noted that long pricing cycles, immigration-related cattle disease concerns and border restrictions on Mexican beef have added to the “perfect storm” he described.<\/p>\n
Although October inflation data has been delayed because of the government shutdown, President Donald Trump on Sunday touted improving consumer prices<\/a> and said some retailers are offering lower-cost Thanksgiving meals \u2014 up to 25% less \u2014 compared to what they charged under the Biden administration.<\/p>\n OMAHA STEAKS C.E.O. WARNS AMERICAN FAMILIES WILL SOON FACE \u2018$10-A-POUND REALITY\u2019 FOR BEEF<\/a><\/p>\n Food prices have also been top of mind for cattle industry leader and Omaha Steaks CEO Nate Rempe, who warned Bartiromo on Friday that beef could cost $10 per pound by the third quarter of 2026.<\/p>\n Scott Bessent, U.S. Treasury secretary, speaks to members of the media outside the White House in Washington, D.C., on Wednesday, Nov. 5, 2025. (Getty Images)<\/p>\n With inflationary pressures still at play across the country, the Trump administration announced last week it plans to use tariff revenue to issue $2,000 payments<\/a> to low- and middle-income Americans, with any remaining funds directed toward reducing the nation\u2019s massive debt.<\/p>\n “We need legislation for that,” Bessent said of the potential checks. “Thanks to him keeping his campaign promises to working Americans \u2026 the working class \u2026 [no] tax on tips, Social Security overtime, we are going to see a big bump there in the first quarter with the refunds and the real incomes \u2026 Sending $2,000 refunds \u2026 that would be for working families. We’ll have an income limit.”<\/p>\n \u00a0Rep. Bill Huizenga, R-Mich., joins \u2018Mornings with Maria\u2019 to discuss President Donald Trump\u2019s proposed $2K tariff checks, the impact of former President Joe Biden\u2019s economic policies, and reports of Christian persecution in Nigeria.<\/p>\n “Just this past week, we signed the trade deals,” he also noted. “So not only will the tariffs come off some of the things you just listed, like coffee, like cocoa, bananas, many other items \u2013 that’s a result of the trade deals going through. And then we will see [cost of living] go down.”<\/p>\n Since Trump announced his \u2018Liberation Day\u2019 tariffs in April, tariff revenues have climbed sharply from $22.1 billion in May to $27 billion in June and $28 billion in July. Total duty revenue reached $195 billion in fiscal year 2025, which ended Sept. 30, according to the Treasury Department\u2019s monthly statements.<\/p>\n![\"Scott](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/11\/scott-bessent-white-house-fall-25.jpg\")
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