‘Did You Lie?’ House Dem Grills Scott Bessent On Flip Flop Over Calling Tariffs ‘Inflationary’

Rep. Sean Casten (D-IL) grilled Trump Treasury Secretary Scott Bessent over conflicting claims Bessent made during the House Financial Services Committee hearing on Wednesday over an article he wrote in 2024 calling tariffs “inflationary.”

Casten began, “I want to read you a quote, ‘Trump will pursue a weak dollar policy rather than implementing tariffs. Tariffs are inflationary and would strengthen the dollar.’ Do you recognize that quote?”

Bessent replied, “I believe you’re referring to a letter that I wrote, and tariffs could be inflationary.”

Casten cut in, “No, no, it says tariffs are inflationary. You had said to the chairwoman– I’d like to introduce on the record a January 31, 2024 letter from, quote, Scott Bessent and the Key Square team to your partners,” where that quote comes from.

Casten then pressed Bessent on comments he made earlier in the hearing to Rep. Maxine Waters (D-CA), “Do you want to correct what you said to the ranking member when you specifically said that you did not say tariffs are inflationary?” Bessent flatly denied calling tariffs “inflationary” when pressed about the same article by Waters.

Bessent replied, “Well, I think she referenced a letter in the summer or something I never…”

Casten hit back, “No, no, I think you disparaged the New York Times. You said tariffs are inflationary. You said tariffs are inflationary. Do you want to correct what you said to the ranking member, or did you lie?”

Bessent conceded, “If I was mistaken, I want to correct it, and I was also mistaken when I said the tariffs could be inflationary.”

Watch the clips above.

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