The Trump administration has successfully addressed the “three I’s” that he said were devastating working-class Americans: immigration, interest rates, and inflation, Treasury Secretary Scott Bessent said in an exclusive interview with Breitbart Business Digest co-authors Alex Marlow and John Carney released Monday.
“Immigration, interest rates and inflation,” Bessent said, ticking off the three factors. On immigration: “Borders closed, promise made, promise kept.”
On interest rates, Bessent noted that the 10-year Treasury yield stood at 5.08 percent when Trump took office and now sits around 4 percent. “Mortgage rates key off of that,” he said, adding that he believes short-term interest rates could decline further.
Inflation to “Bite the Dust” in Coming Months
The Treasury Secretary expressed strong confidence about inflation trends. “I am very confident over the coming six, 12 months, we are going to see the third I bite the dust, and inflation is going to come down,” Bessent said.