Treasury Secretary Scott Bessent openly accused NBC host Kristen Welker of “cherry-picking” inflation data during a contentious Sunday interview on “Meet the Press,” as the two debated the persistent cost of everyday goods under the Trump administration.
Welker pressed Bessent on specific price hikes for consumer staples, citing a nearly 19% increase in coffee prices over the past year, beef up by almost 15%, and bacon rising by close to 6%. She challenged the Secretary on when overall grocery prices would decline, referencing a promise made by President Donald Trump.
“Mr. Secretary, coffee prices are up 19% from a year ago, beef is up almost 15%, and bacon is up almost 6%, just to name a few. So when are all grocery prices going to come down, as President Trump promised?” Welker asked.
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Bessent Defends Administration’s Record
Bessent quickly countered the host’s focus on select items, arguing that the administration inherited a severe “affordability crisis” from the previous Biden administration and that overall inflation has eased since President Trump took office.
“As much as I like you, you like to cherry-pick,” Bessent responded. “You know, when we came in, it was ‘eggflation, eggflation, eggflation.’ Egg prices are down, gasoline prices are down, and overall inflation since President Trump has come in has come down. We inherited this terrible affordability crisis from the Biden administration.”
The Secretary emphasized that tackling the crisis was the administration’s first priority. He pointed to recent economic indicators, noting that the most recent monthly inflation number was below the consensus forecast. Furthermore, he highlighted that core inflation was reported at 0.2%, which he called the lowest in a long time, and that rents are beginning to fall.
“Inflation is a composite number, and I am confident that in the coming months, inflation is going to continue to ease,” Bessent stated.
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Historical Context and Recent Data
The debate comes against a backdrop of historic price instability. Inflation peaked under former President Joe Biden, reaching a record high of 9.1% in July 2022, marking one of the steepest increases in decades.
In the early months of the Trump administration, Democrats frequently criticized the surge in consumer costs, particularly the sharp rise in egg prices that doubled between November 2023 and March 2025 following a bird flu outbreak.
However, recent data suggests a broader trend of easing inflation. The latest annual inflation rate for the U.S. is 3.0% for the 12 months ending September 2025, according to the Bureau of Labor Statistics. Additionally, producer costs have shown a decline, with wholesale inflation dropping 0.1% in August and the annual rate easing to 2.6%.
The latest economic releases also included revised government data showing that employment gains were significantly overstated over the past year, with the U.S. adding about 911,000 fewer jobs than initially reported for the period ending in March 2025.
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