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Daily Mail
34 minutes ago
- Daily Mail
Donald Trump's Treasury secretary has the last laugh as he tears apart CBS host's question on inflation
Treasury Secretary Scott Bessent appeared to dismantle a seasoned CBS anchor's prior warnings about inflation during a national TV interview on Sunday, brushing aside months of skepticism on Trump's economic policies. Appearing on Face the Nation, Bessent faced questions from anchor Margaret Brennan about the Trump tariffs and their threat to Americans' wallets. Brennan had posed similar questions months earlier as she told how economists were forecasting prices to skyrocket and inflation to surge. But during Sunday's interview, Bessent gleefully appeared to bat such concerns away. 'Margaret, when we were here in March, you said there was going to be big inflation. There hasn't been any inflation,' Bessent fired back, smirking. Bessent took what many are calling a victory lap after the Labor Department reported that consumer price increases had cooled to its lowest level in over four years. The consumer price index showed a mere 2.3% year-over-year rise for April, down from 2.4% in March - a stunning development considering the alarm bells economists had sounded when Donald Trump rolled out his aggressive new tariffs earlier in April Bessent's smirk at the low inflation figures said it all. Months earlier Brennan had pressed him hard about warnings from institutions like the Peterson Institute, which predicted Trump's tariffs would ignite runaway inflation. But on Sunday Bessent managed to turn the tables. 'Actually, the inflation numbers are the best in four years. So why don't we stop trying to say this could happen, and wait and see what does happen,' Bessent said. Bessent calmly brushed aside a reference to a Wall Street Journal column by Republican strategist Karl Rove warning how tariffs could damage the GOP's prospects in the next election. Citing a South China Morning Post report, Bessent told how Chinese suppliers are now eating up to 66% of the tariff burden, blunting the effect on US consumers. 'What we are trying to do is to de-risk,' he explained. 'We do not want to decouple, Margaret, but we do need to de-risk.' His remarks reflect a broader shift in the Trump administration's trade policy - an effort to reduce reliance on China for critical industries like semiconductors and pharmaceuticals. 'What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe, and that is not what a reliable partner does,' Bessent said. Pressed on the risks of escalating trade tensions, Bessent was unflinching. Last week, he acknowledged that talks with China had 'been a bit stalled,' but added that the White House remains confident that President Trump and Chinese President Xi Jinping will soon iron out their differences with the expectation being the two leaders will speak directly. On the looming issue of the US debt ceiling, Bessent was equally blunt. 'The United States of America is never going to default. That is never going to happen. We are on the warning track and we will never hit the wall,' he said. Bessent also took aim at Wall Street's warnings, brushing off JPMorgan Chase CEO Jamie Dimon's prediction of a bond market crisis. 'I've known Jamie for a long time, and for his entire career he's made predictions like this. Fortunately none of them have come true. That's why he's a great banker - he tries to look around the corner,' Bessent quipped. On tariffs, Bessent remained bullish, despite concerns about their impact on industries like construction. 'So is it going to impact the construction industry? Maybe,' Bessent conceded. 'But it's going to impact the steel industry in a great way.'
The Independent
an hour ago
- The Independent
What to Stream: Nintendo's Switch 2, Addison Rae album, 'Presence' and Ariana Madix returns to Fiji
A Shaquille O'Neal docuseries about his time at Reebok's basketball division and Mario Kart World on Nintendo 's Switch 2 are some of the new television, films, music and games headed to a device near you. Also among the streaming offerings worth your time, as selected by The Associated Press' entertainment journalists: Ariana Madix returns to Fiji as host of a new season of 'Love Island USA.,' TikTok star Addison Rae offers her debut album 'Addison' and then there's "Presence,' Steven Soderbergh's movie entirely from the perspective a ghost. New movies to stream from June 2-8 — 'Presence,' one of two excellent Steven Sodebergh-directed, David Koepp-scripted movies released this year, arrives Tuesday on Hulu. The film, a nifty, experimental little thriller, is filmed entirely from the perspective a ghost inside a home a family has just moved into. From a floating point-of-view, we watch as the mysterious presence, piecing together a past trauma while observing the unfolding a new one. In her review, AP Film Writer Lindsey Bahr called 'Presence' 'a heady experiment that transcends the somewhat gimmicky-on-paper premise — something Soderbergh manages to do alarmingly well and regularly.' — Tyler Perry 's latest, 'Straw,' stars Taraji P. Henson as a struggling single mother who, desperate for money to pay for her daughter's prescriptions, robs a bank. The film, co-starring Sherri Shepherd, Teyana Taylor and Sinbad, debuts Friday, June 6 on Netflix. — For anyone still mourning the death of Gene Hackman, a new series streaming from Thursday on the Criterion Channel collects some of the late actor 's best films. That includes William Friedkin's seminal 1971 New York thriller 'The French Connection,' Francis Ford Coppola's 1974 masterpiece 'The Conversation' and Wes Anderson's 'The Royal Tenenbaums,' a movie in which Hackman's strained relationship with the director has been a subject of conversation following his death. But also don't miss Arthur Penn's 1975 'Night Moves,' a quintessential '70s neo-noir that gave Hackman one of his most indelible roles in the private eye Harry Moseby. — Film Writer Jake Coyle New music to stream from June 2-8 — Has there been a more seamless transition from TikTok social media star to full-fledged pop music force than that of Addison Rae? On Friday, June 6, she will release her debut LP 'Addison,' one of the year's most anticipated releases – from the Lana Del Rey-channeling 'Diet Pepsi' to the trip-hop 'Headphones On.' She's managed to tap into a kind of late-internet cool through a hybrid approach to pop music and a lackadaisical singing style. Could it be 'Addison' summer? Only time will tell. — Need your Cynthia Erivo fix between 'Wicked' films? She's got your back. The multihyphenate will release her sophomore LP, 'I Forgive You' on Friday, June 6, a collection of big belts and even bigger vulnerabilities, with gorgeous songs that sound as though they were ripped straight from Erivo's diary. Listen closely and carefully for maximum enjoyment. — Anyone who thinks the mainstream music listening world has lost interest in rock bands needs to simply look at Turnstile, the Baltimore hard-core punk band that could. They've largely left those harsh sounds behind and have opted for something more melodic and accessible — which is, arguably, part of the appeal for those curious parties — but they've maintained their hard-core ethos and edge. 'Never Enough' is gearing up to be the biggest release of their career so far, and we say it's time to get on board. And get in the pit. — Music Writer Maria Sherman New television to stream from June 2-8 — Ariana Madix has returned to Fiji as host of a new season of 'Love Island USA.' The new episodes have big shoes to fill. Last season was the top-rated reality series of 2024. It also broke through the cultural zeitgeist with social media memes and water cooler conversation. Madix says she's not worried about duplicating that success, and wants the contestants to focus on 'creating their own lane by being truly themselves and bringing themselves to it, you'll never lose by doing that.' The show premieres Tuesday and will air six nights a week on Peacock. — As a teenager, Kristin Cavallari was a breakout of the MTV reality series 'Laguna Beach' because of her unfiltered honesty. She's carried that with her throughout other reality shows and to her podcast 'Let's Be Honest.' Cameras rolled when Cavallari took the podcast on the road in March. That will air as the docuseries 'Honestly Cavallari: The Headline Tour' beginning Wednesday on E!. It streams on Peacock. — Shaquille O'Neal also has his own docuseries coming to Netflix Wednesday called 'Power Moves with Shaquille O'Neal.' It's an inside look at his efforts as president of Reebok's basketball division. Allen Iverson is vice president. Both have a history with the brand. In 1992, O'Neal signed a deal with Reebok as a rookie playing for the Orlando Magic. Iverson famously inked a lifetime deal with the brand one year prior in 1991. The series will show the two pro ballplayers work to make Reebok Basketball cool and competitive in the sneaker market. It drops Wednesday. — Get your feel-good TV fix with Apple TV+'s new show, 'Stick.' It stars Owen Wilson as Pryce, a broke and divorced former pro golfer who could use a break. He finds it in a teen phenom named Santi and volunteers to be his coach. The show is about chosen family and second chances. 'Stick' premieres Wednesday. — Alicia Rancilio New video games to play week of June 2-8 — Nintendo fans worldwide are bracing themselves for the arrival of the Switch 2, a souped-up version of the eight-year-old console with new social features meant to draw players into online gaming. The highlight of the launch lineup is Mario Kart World, which features a Grand Prix for up to 24 drivers and introduces a sprawling open environment where 'everywhere is your racecourse.' Other Day One arrivals include upgraded versions of the last two Legend of Zelda adventures, and some popular third-party games like Cyberpunk 2077 and Split Fiction will be making their Nintendo debuts. The next generation takes the stage Thursday, June 5. — Lou Kesten
Times
an hour ago
- Times
Overhaul of British skies should reduce flight delays
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