Bessent: US Core Inflation Still Under Control

Cointime update: US Treasury Secretary Scott Bessent said on November 13 that US core inflation remains under control, describing the recent price pressure as an energy supply shock caused by Iran. Bessent said the Federal Reserve should recognize it as an energy supply shock and not pivot in response, adding that markets are resilient, bond auctions are strong and dollar buying is brisk. He said over-tightening as the energy supply shock fades would be inappropriate.