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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 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.

WASHINGTON (Reuters) -The Republican-controlled U.S. Congress on Sunday sought to push forward with President Donald Trump's sweeping tax-cut bill, as one of his top economic officials dismissed Moody's decision to strip the federal government of its top-tier credit rating. A handful of hardline Republicans blocked the bill from clearing an important procedural hurdle on Friday, saying it did not cut spending sharply enough, with the House of Representatives set to try again in a rare Sunday-night committee session. Nonpartisan analysts say the bill, which would extend the 2017 tax cuts that were Trump's signature first-term legislative win, would add $3 trillion to $5 trillion to the nation's $36.2 trillion in debt over the next decade.

WASHINGTON (Reuters) -The Republican-controlled U.S. Congress on Sunday sought to push forward with President Donald Trump's sweeping tax-cut bill, as one of his top economic officials dismissed Moody's decision to strip the federal government of its top-tier credit rating. A handful of hardline Republicans blocked the bill from clearing an important procedural hurdle on Friday, saying it did not cut spending sharply enough, with the House of Representatives set to try again in a rare Sunday-night committee session. Nonpartisan analysts say the bill, which would extend the 2017 tax cuts that were Trump's signature first-term legislative win, would add $3 trillion to $5 trillion to the nation's $36.2 trillion in debt over the next decade.

(Bloomberg) -- Treasury Secretary Scott Bessent downplayed concerns over the US’s government debt and the inflationary impact of tariffs on companies including Walmart Inc., saying the Trump administration is determined to lower federal spending and grow the economy.Most Read from BloombergHow a Highway Became San Francisco’s Newest ParkMaryland’s Credit Rating Gets Downgraded as Governor Blames Trump America, ‘Nation of Porches’Power-Hungry Data Centers Are Warming Homes in the NordicsNJ Transi

It may seem like just about every day there's news from President Donald Trump's administration about tariffs and deals. Trump has said those tariffs on other countries are needed to help the American...

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