Treasury Secretary Scott Bessent said the U.S. economy may be “starting to roll a bit,” as data suggests last year’s red-hot economy is slowing. Bessent said the Trump administration’s moves to transition the economy to one that emphasizes private spending over public spending may require a “detox” period.

Treasury Secretary Scott Bessent said that President Donald Trump's tariffs aren't going to cause persistent inflation, but may lead to a one-time price adjustment.