Treasury Announces 'Affordability Czar' to Address Rising Consumer Prices

The new role will focus on key areas to reduce costs for working-class Americans, as inflation and tariffs remain contentious issues.

Treasury Secretary Scott Bessent announced the appointment of an 'affordability czar' to help lower consumer costs across five to eight priority areas.
An 'affordability council' will also be formed to support efforts aimed at tackling high prices, though specific details remain unclear.
The announcement follows slight improvements in inflation data, with overall inflation dropping to 2.5% in January, but core inflation and consumer price index figures remain above target levels.
Critics question the effectiveness of the initiative, as upcoming tariffs on Canada, Mexico, and China may increase household expenses by over $1,200 annually, according to economic estimates.
The Trump administration faces scrutiny over simultaneous policies, such as proposed Medicaid cuts and immigration crackdowns, which could further strain budgets for low-income Americans.