A Treasury official faced pushback after asserting grocery prices are declining, contradicting recent consumer cost data.
Treasury Secretary Scott Bessent defended the administration’s stance on grocery prices during a Senate Finance Committee hearing, claiming costs are falling. The assertion drew immediate criticism from lawmakers, who cited rising expenses at checkout lines nationwide.
Sen. Maggie Hassan challenged Bessent’s claim, noting recent increases in gas, utility, and grocery bills. Bessent referenced a Trump social media post highlighting select items with stable prices but provided no broader data to support the assertion.
The exchange underscored ongoing debates over inflation and household affordability, with lawmakers questioning the administration’s grasp of consumer financial pressures.