Overview
- Treasury Secretary Scott Bessent said holiday sales have been strong across income groups, countering concerns of a weak season.
- He cited two recent quarters near 4% growth and projected the year ending with roughly 3% real GDP expansion.
- According to the interview, the president issued an order to investigate corporate price gouging tied to high beef prices, which Bessent said differs from prior efforts that he argued did not work.
- Bessent said the Agriculture Department will offer a short-term bridge payment for farmers this week to support planning as trade packages are finalized.
- He said IRS Criminal Investigations uncovered large-scale Minnesota welfare fraud and traced transfers through unregulated wire services to overseas destinations, including the Middle East and Somalia.