Walmart price warnings ‘worst-case’, Bessent says

News Snapshot:

WASHINGTON — U.S. Treasury Secretary Scott Bessent on Sunday played down inflation risks from the Trump administration’s tariffs, saying that he spoke to the head of Walmart and the retailer’s warnings of price increases for consumers were simply a “worst case scenario.” As doubts persist about U.S. President Donald Trump’s economic leadership, Bessent pushed back against inflation concerns, praised the uncertainty caused by Trump as a negotiating tactic for trade talks and dismissed the downgrade Friday of U.S. government debt by Moody’s Ratings. Bessent said he spoke on Saturday with Walmart CEO Doug McMillon, stressing in two news show interviews...