Bessent Invokes Language on Inflation That Caused Yellen Trouble

Whether he calls it a “blip,” “transitory” or “transient,” Treasury Secretary Scott Bessent has taken to describing inflation in a way that came back to haunt his predecessor and the previous administration.

“Except for inflation — which is I believe going to be a short term blip — the economic data is very strong,” Bessent said in a Senate Finance Committee hearing on Wednesday.

It was the latest example of the Treasury chief characterizing the surge in prices since the Iran war began as a one-off hit. The overall consumer price index climbed 3.8% in April, the most since 2023, ...