Bessent reveals creation of ‘affordability czar’ to tackle high prices
SUMMARY
Treasury Secretary Scott Bessent dropped some news Sunday on CBS’s Face the Nation, saying he’s creating an “affordability czar” and an “affordability council” to tackle sky-high consumer prices. He described the czar as someone who’ll zero in on “five or eight areas” where the Trump administration can help working-class Americans, though he kept mum on the council’s details. Bessent admitted prices won’t drop overnight—blaming four years of buildup—but pointed to five weeks of progress under Trump, like falling interest rates. “Trump said he’ll own the economy in six or 12 months, but we’re on it every day,” he said, highlighting housing and auto affordability gains. Fresh Bureau of Labor Statistics data backs him up a bit: January inflation dipped from 2.6% to 2.5%, though core inflation, skipping food and energy, ticked up to 2.6%. The consumer price index hit 3%, above the Fed’s 2% sweet spot. Bessent’s betting these new roles will make a dent, but with only weeks in, it’s early da
