Economic growth will be slower this quarter amid war, US Treasury chief says

WASHINGTON: U.S. Treasury Secretary Scott Bessent said on Wednesday that the economy will ‌be slower this ⁠quarter ⁠amid the Iran war, but it is in good shape and will rebound, adding that oil prices do not appear to ⁠be weighing ‌on inflation expectations.

In an interview on CNBC, ⁠Bessent said micro data points on the U.S. economy were great and the Treasury Department would watch retail gasoline sales for consumers.

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"We'll be looking at ‌Treasury to try to keep the retail ​gas stations ​honest -- ⁠that you did this on the way up, better be doing this ​on the way down," he said.