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U.S. Treasury Secretary Scott Bessent highlighted key economic data during his interview on CBS’s “Face the Nation” this past Sunday, asserting that inflation is decreasing and the economy remains robust. The April Consumer Price Index (CPI) recorded a 2.3% rate, the lowest inflation figure in over four years.
- Inflation: April CPI was 2.3% annually, with a 0.2% monthly gain, lower than the 0.3% expected by economists.
- Job Market: The U.S. added 139,000 jobs in May, with the unemployment rate steady at 4.2%, higher than the 125,000 jobs expected.
- Market Volatility: The VIX index, measuring market volatility, hit a five-year high, reflecting ongoing market instability.
Bessent emphasized the importance of focusing on data rather than speculative fears surrounding tariffs and inflation. Meanwhile, upcoming market events aim to address investor concerns about managing volatility and finding opportunities amidst market fluctuations.
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