FULL: Treasury Secretary Scott Bessent testifies on the Iran war, gas prices and inflation

Treasury Secretary Scott Bessent testifies before the House Financial Services Committee, defending the administration’s economic agenda, including tax cuts and deregulation, while addressing concerns over inflation and the national debt. The discussion centers on the "Trump accounts" initiative, designed to expand equity market access for working families, and the ongoing "Operation Economic Outcast," which utilizes aggressive sanctions to isolate Iran. Lawmakers press the Secretary on the economic impact of tariffs, the risks of unchecked artificial intelligence development, and the need for modernizing anti-money laundering thresholds. Bessent emphasizes the resilience of the U.S. bond market and the strategic necessity of maintaining the dollar’s global reserve status. The hearing highlights sharp partisan divisions regarding the current state of the economy, the effectiveness of trade policies, and the government's role in managing emerging technological threats.