House Democrats set to grill Treasury chief Scott Bessent on soaring costs

During a Financial Services Committee session, House Democrats intend to challenge Treasury Secretary Scott Bessent over the surge in living costs driven by inflation, tariffs, bond yields and Iran-related issues. The inquiry will examine Bessent's assertive moves in markets such as Argentina and Japan and question his recent claim of being "the house now" against mentor Stanley Druckenmiller's doubts about expanded debt buybacks.

Lawmakers will ask whether these buybacks complicate the Federal Reserve's monetary stance. Additional topics include scrutiny of Treasury plans to shrink Iran's shadow shipping fleet and to audit oil revenue streams from Venezuela. The hearing aims to hold the Treasury accountable for policies affecting both domestic price pressures and international financial actions.