US Treasury Secretary Scott Bessent spoke about easing core inflation, the Federal Reserve’s open-minded stance, developments involving Iran and the outlook for Iran’s oil exports to China. Iran’s oil exports to China are expected to end within 2 weeks.
The remarks by US Treasury Secretary Scott Bessent focused primarily on domestic US price trends and their implications for monetary policy. He expressed the view that core inflation is easing and that the Federal Reserve (FRB) should remain open-minded. He also indicated that, amid developments in relations between Iran and China, Iran is expected to sharply reduce its oil exports to China.
Regarding Iran’s oil supply, he said that Iran’s crude oil exports to China would likely end within 2 weeks, and indicated that only about 15 million barrels of Iranian crude oil are expected to remain. He also expressed the view that Iran is feeling pressure and wants a deal.