The U.S. inflation rate rose again in June and now stands at 2.7%. That marks a third straight month of gradual increases. Prices went up in housing groceries and energy. Americans are feeling pressure as household costs continue to rise. The Federal Reserve is monitoring inflation trends but has kept interest rates unchanged. The overall economy is still showing strong job growth and steady wage increases.

“These policies are about protecting American strength not pleasing short-term critics,” said Bessent.

Treasury Secretary Scott Bessent responded to inflation concerns during a press conference. He dismissed claims that tariffs and trade controls were driving inflation higher. He said current policies are part of a long-term economic plan. Critics from both parties are questioning the timing and impact of these trade rules. Bessent said foreign competition must be balanced with domestic interests.

White House Defends Trade While Managing Inflation

Bessent highlighted recent trade deals with Asia and Europe aimed at stabilizing key supply chains. He said talks with Canada and Mexico are ongoing to address regional concerns. The administration said inflation in the U.S. remains lower than in many global economies. Republican lawmakers have accused the White House of ignoring cost-of-living impacts. Bessent rejected the criticism.