Treasury Secretary Scott Bessent holds White House press briefing — 5/28/2026

Summary

Treasury Secretary Scott Bessent holds a press briefing covering Trump accounts, tax cuts, GDP growth, energy dominance, and Iran negotiations. He expects oil prices to decline sharply as supply surges and the Strait of Hormuz reopens. He also discusses digital currency policy, deficit reduction, and the Fed. The briefing provides a bearish outlook on crude oil and a cautious stance on inflation.

• Bessent announced the Trump accounts app, aiming to create a generation of shareholders.
• He highlighted strong GDP growth and tax refunds, but noted PCE inflation remains elevated.
• He expects oil prices to fall further as supply surges and the Iran conflict resolves.
• He confirmed the U.S. will not create a central bank digital currency and supports stablecoin legislation.
• He discussed deficit reduction through fraud elimination, which could lower interest rates.
• He emphasized the U.S. is an AI superpower and will balance innovation with safety.
• He defended the administration's sanctions on Russian oil companies.
• He deflected questions on a potential Iran deal and the $250 bill proposal.