Bessent praises Trump economy, warns China has acted strongly
Treasury Secretary Scott Bessent discussed slowing U.S. GDP growth, which was impacted by technical factors, and highlighted strong underlying economic indicators like manufacturing and employment. He noted that core inflation and service prices are declining, though still above the Federal Reserve’s target. Bessent also addressed rising tensions with China over AI development and rare earth minerals, emphasizing the need for diplomatic conversations and asserting U.S. leadership in AI technology.
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