Bessent Gets Fact-Checked, Elicits Laughs on Claim ‘Affordability is Worse in Blue States’

Trump Treasury Secretary Scott Bessent joined Andrew Ross Sorkin at The New York Times’s DealBook Summit on Wednesday and was quickly fact-checked over his claim that inflation is worse in blue states.

Ross Sorkin began the exchange, noting, “You’ve been talking about how the regional presidents, you think, actually are not as independent unto themselves as you want.”

Bessent replied, “Well, no, no, no. I think when I was on Squawk Box last week, Becky said, ‘Well, Susan Collins at the Boston Fed says this—” and, you know, that her people in her district are having an affordability problem. I should have said, ‘Well, she’s in a red state. Affordability is worse than— I mean, in a blue state, affordability is worse than a red state.’”

“We can debate that, but keep going—” Ross Sorkin replied, as Bessent added, “No, no, there’s no debate. The number is fifty basis points higher inflation. The ten highest inflation rates are in blue cities.”

Ross Sorkin, “But just so you know, because I went to look at this—this is the Joint Economic Committee—since 2021 the highest inflation of the past four years has been in red states, especially Florida.”

Bessent hit back, “I’m talking about current. Current. Current, not over the past four years.”

Ross Sorkin pushed back, “Right.”

“Today,” Bessent insisted, drawing laughter from the crowd.

“Okay. I would think four years would be a reasonable trend line to look at. Okay,” replied Ross Sorkin.

Bessent added, “It is fifty basis points higher. So anyway, and look, people are voting with their feet. I have the American people on my side. New York, Illinois, California, Massachusetts are depopulating.”

Ross Sorkin replied, “And they’re going to places like Florida, where interest rates are—or, I’m saying inflation’s up twenty-two percent over the last four years.”

Bessent pushed back, “Well, inflation is up twenty-five percent nationally.”

Ross Sorkin fact checked him again, “So it is lower. I believe in New York it was nineteen percent.”

Bessent replied, “Sorry?”

Ross Sorkin repeated, “I believe in New York it was nineteen percent.”

Bessent insisted, “I don’t think that’s right, but—”

Watch the clip above.

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