{"id":449937,"date":"2026-02-05T05:48:15","date_gmt":"2026-02-05T05:48:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/449937\/"},"modified":"2026-02-05T05:48:15","modified_gmt":"2026-02-05T05:48:15","slug":"treasurys-bessent-says-he-was-wrong-when-he-said-tariffs-could-be-inflationary","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/449937\/","title":{"rendered":"Treasury&#8217;s Bessent says he was wrong when he said tariffs could be inflationary"},"content":{"rendered":"\n<p class=\"yf-vbsvxt\">WASHINGTON, Feb 4 (Reuters) &#8211; U.S. Treasury Secretary Scott Bessent on Wednesday \u200bsaid he was wrong when \u200che and his Key Square investment firm told \u200cpartners in January 2024 &#8211; before U.S. President Donald Trump won the presidency &#8211; that &#8220;tariffs are inflationary.&#8221;<\/p>\n<p class=\"yf-vbsvxt\">Grilled about the document \u2060during a \u200cHouse Financial Services Committee hearing, Bessent said he wished to \u200dcorrect the record. &#8220;If I was mistaken, I want to correct it. And I was \u200balso mistaken when I said \u200cthe tariffs could be inflationary.&#8221;<\/p>\n<p class=\"yf-vbsvxt\">Bessent said the U.S. economy was growing and inflation was coming down, despite a slew of tariffs imposed by Trump \u2060since taking office a \u200byear ago. &#8220;So tariff inflation \u200bwas the dog that didn&#8217;t bark,&#8221; he told lawmakers.<\/p>\n<p class=\"yf-vbsvxt\">U.S. data \u200dlast month \u2060showed a larger-than-expected rise in the Producer Price Index in December, \u2060suggesting inflation could pick up in the months \u200cahead.<\/p>\n<p class=\"yf-vbsvxt\">(Reporting by Andrea Shalal, Editing \u200cby Franklin Paul)<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON, Feb 4 (Reuters) &#8211; U.S. Treasury Secretary Scott Bessent on Wednesday \u200bsaid he was wrong when \u200che&hellip;\n","protected":false},"author":2,"featured_media":449938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,942,209524,759,41499],"class_list":["post-449937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-president-donald-trump","tag-secretary","tag-tariffs","tag-u-s-treasury"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/449937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=449937"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/449937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/449938"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=449937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=449937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=449937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}