Maxine Waters and Treasury Secretary Scott Bessent Clash Over Tariffs and Inflation Impact
During a recent House Financial Services Committee hearing, Rep. Maxine Waters engaged in a heated exchange with Treasury Secretary Scott Bessent over the impact of tariffs on inflation and affordability. Waters argued that tariffs have led to increased prices for goods such as coffee, bananas, and housing materials, making homes less affordable. Bessent countered by citing a San Francisco Federal Reserve report, which suggests that tariffs do not cause broad-based inflation but rather lead to a one-time price increase. The debate highlighted differing views on the economic impact of tariffs, with Waters emphasizing the burden on consumers and Bessent pointing to historical data that tariffs do not fuel ongoing inflation. 
