Treasury Secretary Scott Bessent delivered a message many Americans were hoping to hear this year: Christmas is back on track under President Donald Trump, and the U.S. economy is powering into the holiday season with renewed strength and stability.
During an appearance on CBS’ Face the Nation, Bessent said the country is experiencing a “very strong holiday season,” noting that consumer spending remains solid across every income group. His comments directly challenged media speculation that Trump’s tariff strategy might cause shortages or higher prices for families.
“There’s nothing to say that there are two dolls instead of 30 dolls,” Bessent said, reminding viewers that American shoppers are still finding full shelves and affordable gifts — a major contrast to the supply-chain chaos under Joe Biden.
A Booming Trump Economy Heading Into Christmas
Bessent pointed to powerful economic data showing the U.S. outperforming expectations. Under Trump’s policies, the nation has hit 4% GDP growth in multiple quarters, and projections show the year closing with 3% real GDP growth — a level many economists said was unlikely until Trump returned to the White House.
He also highlighted key inflation indicators, noting that overall inflation has flattened, and imported goods — often scapegoated by Democrats — are not driving price increases. Instead, he said, lingering service-sector inflation is the main factor, and that issue “has nothing to do with tariffs.”
Americans Are Feeling Relief — Despite Biden’s Leftover Inflation
The media tried to point to polling suggesting voters believe Trump is painting too positive a picture of inflation. But Bessent pushed back, emphasizing that the administration is focused on results, not political narratives.
He explained that real incomes are rising, up roughly 1%, giving families more financial breathing room. At the same time, the cost of a “common man basket” — essentials like food, gasoline, and rent — is now easing after years of Biden-era price spikes.
Bessent said the White House is dealing with “embedded inflation” left behind by Joe Biden, but progress is undeniable. He predicted that inflation will “roll down strongly” next year as Trump’s economic agenda continues taking effect.
Trump Targets Corporate Price Gouging — With Results Already Showing
Bessent also defended Trump’s new initiative to investigate corporate price gouging, especially in the beef industry. He emphasized that Trump’s approach is vastly different from Biden’s political theatrics, pointing out that turkey prices have already dropped heading into Thanksgiving — a sign that the administration’s strategy is working.
Cleaning Up the Mess Biden Ignored
On another issue, Bessent addressed the massive welfare fraud scandal in Minnesota. He revealed that it was the IRS — not state officials — that uncovered the fraud, describing the situation as yet another example of federal agencies cleaning up state-level mismanagement.
“We had to go in and clean up the mess for them,” Bessent said, confirming that millions have already been recovered from those involved.
A Clear Message to Voters: Trump Delivered for Christmas
From economic growth to lower prices, increased consumer confidence, and a crackdown on fraud and corporate abuse, Bessent’s message was unmistakable:
President Trump didn’t just stabilize the economy — he saved Christmas 2025 for millions of American families.
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