US Treasury Secretary Scott Bessent has reiterated the administration's commitment to lowering interest rates and tackling inflation to make life more affordable for Americans. He highlighted the decline in mortgage rates since the election and inauguration, attributing it in part to upcoming bank deregulation. Bessent emphasized that lowering interest rates would benefit homeowners and ease credit card and auto loan costs, particularly for low-income Americans. He also discussed efforts to address affordability and reduce costs in sectors like housing and insurance through deregulation. Bessent expressed confidence that the Chinese manufacturers will absorb new tariffs rather than passing costs onto American consumers. He cited examples of companies like Honda shifting manufacturing to the US as evidence that tariffs are encouraging businesses to relocate production. Additionally, Bessent outlined plans to expand US energy production in crude oil, natural gas, and nuclear power, aiming to become major energy exporters.



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