Scott Bessent Calls Out Media’s Inflation Spin [WATCH]

Treasury Secretary Scott Bessent pushed back against NBC’s “Meet the Press” host Kristen Welker on Sunday, accusing her of cherry-picking economic data to paint a distorted picture of inflation under President Donald Trump’s administration.

During the interview, Welker cited increases in the prices of coffee, beef, and bacon to challenge the administration’s handling of consumer costs.

Bessent responded by pointing out that key prices have fallen in recent months and that the affordability crisis began under the Biden-Harris administration.

“Mr. Secretary, coffee prices are up 19% from a year ago, beef is up almost 15%, and bacon is up almost 6%, just to name a few. So when are all grocery prices going to come down, as President Trump promised?” Welker asked.

“As much as I like you, you like to cherry-pick,” Bessent replied.

“You know, when we came in, it was ‘eggflation, eggflation, eggflation.’ Egg prices are down, gasoline prices are down, and overall inflation since President Trump has come in has come down. We inherited this terrible affordability crisis from the Biden administration.”

Bessent emphasized that tackling inflation and restoring consumer purchasing power were among the Trump administration’s top economic priorities.

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“The first thing we had to do was get it under control, and this month’s inflation number was actually below the consensus number,” Bessent said.

“If we look at core inflation, it was 0.2%, which is the lowest it has been in a long time. Rents are coming down, so you know it, Kristen. You don’t get to cherry-pick. Inflation is a composite number, and I am confident that in the coming months, inflation is going to continue to ease.”

The Treasury Secretary’s comments come as federal data show that overall inflation has stabilized after years of volatility.

Inflation reached a 40-year high of 9.1% in July 2022 under Joe Biden, according to the Bureau of Labor Statistics (BLS).

The rapid rise in prices during that period strained household budgets nationwide, driving up the costs of groceries, fuel, and housing.

In contrast, the most recent BLS report showed that inflation stood at 3.0% for the 12 months ending in September 2025.

The same report noted that producer prices — a key indicator of future consumer costs — declined by 0.1% in August, bringing the annual wholesale inflation rate down to 2.6% from 3.3% the previous month.

Bessent highlighted these trends as evidence that the Trump administration’s policies, including targeted spending restraint and domestic energy expansion, have begun to reverse the damage caused by the previous administration’s economic approach.

Part of the discussion centered on food costs, particularly eggs, which became a symbol of inflationary strain during Biden’s term.

Between November 2023 and March 2025, egg prices more than doubled after an outbreak of avian influenza led to the culling of millions of chickens nationwide, according to data from the Federal Reserve Bank of St. Louis.

Prices have since fallen substantially, aided by supply recovery and easing feed costs.

Bessent also cited progress in the labor market, noting that revisions to government employment data revealed previous overestimations.

According to the Bureau of Labor Statistics, roughly 911,000 fewer jobs were created during the year ending in March 2025 than initially reported.

The revised figures show a slowdown in hiring that continued into late summer, reinforcing signs of a cooling but stabilizing economy.

While Welker pressed Bessent on whether the administration would deliver faster relief for families still feeling the effects of higher prices, he maintained that the overall economic direction was improving.

“Inflation is coming down, wages are catching up, and America’s affordability crisis is being fixed,” he said.

The exchange marked one of Bessent’s most direct rebuttals of media reporting on economic issues since taking office.

The Treasury Department has continued to argue that measured declines in inflation and steady labor participation show progress after what officials describe as the worst affordability downturn in decades.