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Bessent Blames Biden as Inflation Hits 21.5%

By Drooid · Oct 19, 2026, 2:53 AM UTC · How we work

Summary

Story summary

U.S. Treasury Secretary Scott Bessent blamed former President Joe Biden for inflation reaching 21.5%.
He noted wage growth about 17% and September consumer prices up 3.7%, fastest in five months.
Bessent said core inflation flat for four months and gas prices rose 44% since the Iran conflict began.
He said President Donald Trump’s policies added 1.5% wages and one million jobs.
NBC’s Kristen Welker noted core inflation excludes energy and food.

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Story summary

U.S. Treasury Secretary Scott Bessent blamed former President Joe Biden for inflation reaching 21.5%.
He noted wage growth about 17% and September consumer prices up 3.7%, fastest in five months.
Bessent said core inflation flat for four months and gas prices rose 44% since the Iran conflict began.
He said President Donald Trump’s policies added 1.5% wages and one million jobs.
NBC’s Kristen Welker noted core inflation excludes energy and food.