Sec. Scott Bessent on Core Inflation: We Have the Biggest Decrease in Pharma Prices in History

RUSH EXCERPT:
BESSENT: "What we’re seeing in core inflation both in goods and services the is down, and that that’s what matters We’re seeing the wage increase especially in a lot of the hospitality sectors come down. We are seeing that the bottom 25% of Americans get good wage increases but that’s being contrasted by the top earners So, you know, the wage inflation has has come down and the core inflation We had the biggest decrease in pharma prices I think in history since we’ve been measuring the sequence So like the underlying factors other than energy and there is no we aren’t seeing anything that says that the second order effects are spilling over into core inflation As a matter of fact in the past weeks we are seeing like the five-year five-year any inflation markers is telling us that inflation is going to be lower in the future"