Overview
- Treasury Secretary Scott Bessent said holiday spending has been very strong across income groups and projected roughly 3% real GDP growth for the year after quarters near 4%.
- Margaret Brennan reported that President Trump ordered an investigation into potential corporate price gouging tied to high beef prices, which Bessent contrasted with declines such as a 16% drop in Thanksgiving turkey costs.
- Agriculture Secretary Brooke Rollins is set to announce short-term bridge payments for farmers this week, as Bessent works on finalizing trade packages he says should support a recovery next year.
- Bessent said farmers need temporary financing because Chinese tactics in past trade negotiations used U.S. soybean producers as pawns, delaying price improvements and planning for the next season.
- Bessent credited the IRS Criminal Investigations Unit with uncovering a large Minnesota welfare-fraud scheme and said funds tied to the case moved through nonbank wire channels to the Middle East and Somalia, with tracking and recovery efforts ongoing.