Bessent Sees Tame Inflation, Signals Support for Yen

Treasury Secretary Scott Bessent says US underlying price pressures are tame and core inflation is slowing. Inflation indicators, excluding food and energy prices, are subdued.

Bessent emphasized that the Federal Reserve needs to consider economic conditions over the next nine, 12, and 18 months when making decisions.

He also stated that the era of the K-shaped economy has ended, where the pace of recovery diverges by income and asset levels. The US would take necessary steps to support the yen on foreign-exchange markets.