Scott Bessent Tells Kristen Welker When Americans Should See Lower Prices

Treasury Secretary Scott Bessent told “Meet the Press” host Kristen Welker on Sunday that Americans should start seeing lower prices on some products within weeks.

President Donald Trump announced Nov. 14 that tariffs on some imported grocery items would be suspended, citing progress in trade talks. Bessent told Welker the Trump administration was making progress in reducing prices by addressing illegal immigration and also trying to get lower interest rates while reducing inflation.

“In March of 2024 I wrote a piece, and I talked about the three I’s that were killing Americans: immigration, interest rates, and inflation. President [Trump]’s closed the border and the mass immigration is gone, and that was putting a lot of the immigration was putting upward pressure on housing, downward pressure on wages.”

“Interest rates are down and now we are starting to see the affordability. The prices get better. We had a very big October for home sales,” Bessent continued. “Energy prices: gasoline is down. We saw— we believe health care is gonna come down: we will see an announcement this coming week on that. And so, across the board, prices are starting to come down. We’re having Thanksgiving week. This will be the lowest cost for a Thanksgiving dinner in four years. Turkey prices are down 16%.”

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Photo credit: Gage Skidmore via Flickr