Overview
- Treasury Secretary Scott Bessent, who testified before the Senate Finance Committee on Wednesday, struggled to defend President Trump after Sen. Maggie Hassan quoted the president saying he 'doesn't think about Americans' financial situation.'
- Bessent disputed some characterizations of price trends and said groceries were 'going down' while citing a 2.5% rise in 'food at home' in statistical data, an answer that senators and several outlets portrayed as evasive.
- Lawmakers pressed tangible figures in the hearing, with Hassan saying the average New Hampshire household paid about $3,000 more for basic goods since Trump returned to office and citing roughly 100,000 manufacturing jobs lost in 2025, while independent trackers and media reported hundreds of dollars in extra fuel costs per household tied to the war with Iran.
- Bessent defended budget items questioned by senators by saying decorative ballroom costs are privately funded and that a $1 billion request was for 'national security matters,' a claim that drew sharp pushback from Democrats who labeled the projects costly and out of step with household pain.
- Coverage of the hearing highlighted a split between administration messaging and economic reporting, noting that supply disruptions linked to the Iran war pushed pump and grocery prices higher and that the confrontation could increase congressional scrutiny of spending and the administration's war policy.