Treasury Secretary Bessent Testifies on Economy, Inflation Issues

Treasury Secretary Scott Bessent defended the Trump administration's economic record during a contentious hearing on September 15, 2026. He highlighted rising wages for low-income Americans and commented on U.S. efforts against Iran. The 10-year Treasury note traded at 5%, contributing to higher consumer borrowing costs, while the 30-year fixed mortgage rate averaged over 7%. Additionally, oil prices surpassed $100 a barrel, impacting gas prices, which reached an average of $4.32 in the U.S. This hearing could influence investor confidence amid rising rates and inflation concerns.