【CNN】New tariffs are generating billions of dollars in revenue, but Bessent says that will go toward paying national debt

“The real problem here is we’re seeing some distributional aspects to the higher rates, especially in housing and for lower-income households with high credit card debt,” he said. “We’re seeing this big [capital expenditures] boom, part of it is AI, part of it is the tax bill, and so capex is doing well; but households, home building is struggling.”

READ MORE