U.S. Treasury Secretary Bessent: 3.8% inflation is just a short-term disruption

```htmlJinse Finance reported that on June 4, regarding the recent inflation trend, US Treasury Secretary Bessent has consistently expressed the same view in Congress and public occasions: the current price increases are mainly due to short-term shocks rather than structural problems. At a Senate Finance Committee hearing, he stated clearly: "Apart from inflation—which I believe will be a short-term disruptive factor—all other economic data is very robust." This statement continues his previous repeated characterizations regarding the nature of rising prices.April data show that, driven by increased energy costs caused by tensions in the Strait of Hormuz, the US Consumer Price Index (CPI) rose by 3.8% year-on-year, the largest increase since 2023. Bessent attributed this change to supply shocks from the Iran conflict and repeatedly stressed its one-off characteristic.In May, he explained: "I firmly believe that nothing is more temporary than a supply shock." During a White House Cabinet meeting, he expressed the same view, believing that as the conflict ends, energy prices will fall, and stated directly: "When all this is over, oil prices will be lower than pre-conflict levels," also pointing out that natural gas prices have already started to drop.Similar opinions are reflected in his interpretation of financial markets. Bessent previously mentioned that the rise in global bond yields reflects "what I consider to be fleeting short-term inflation volatility." At another Cabinet meeting, he similarly emphasized: "I believe that price increases are temporary."```