'Bit of pain' worth long-term security from Iran, Bessent tells BBC
US Treasury Secretary said a "small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals.
Coverage by Political Leaning
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Notable Quotes
"I wonder what the hit to global GDP would be if a nuclear weapon hit London... I am saying that I am less concerned about short-term forecasts, for long-term security."
— Scott Bessent , Executive
"The biggest risk you can take is one you don't know you were taking."
— Scott Bessent , Executive
"A prolonged conflict would lead to spiralling inflation, push up unemployment and lead to food insecurity in some countries."
— Pierre-Olivier Gourinchas , Academic
""small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals."
— US Treasury Secretary , Executive
"I think it’s close to over, yeah. I mean, I view it as very close to over."
— Donald Trump , Politician
"Was God on the side of the Americans who liberated France from the Nazis? I certainly think the answer is yes."
— JD Vance , Politician
""small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals."
— Bessent , Executive
"I think it’s close to over, yeah. I mean, I view it as very close to over."
— Donald Trump , Politician
Key People
Bessent is a financial expert commenting on economic policies.
Former president of the United States known for his aggressive economic policies.
JD Vance is a United States Senator from Ohio and a prominent figure in conservative politics.
U.S. Secretary of State.
Pierre-Olivier Gourinchas is the chief economist at the International Monetary Fund.
Scott Bessent is the Treasury Secretary.
The US Treasury Secretary is responsible for formulating and recommending economic, financial, and fiscal policies.
Tags
All Coverage
US Treasury Secretary said a "small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals.
The article reports on a significant rise in U.S. wholesale prices due to the Iran conflict, with Treasury Secretary Scott Bessent stating that short-term economic pain is worth the long-term security of preventing a nuclear Iran.
Scott Bessent warns that Chinese tankers will be blocked from the Strait of Hormuz amid escalating tensions with Iran, emphasizing that paying Iran's tolls would violate U.S. sanctions.
Treasury Secretary Scott Bessent states that a small amount of economic pain is justified to eliminate the risk of a nuclear-armed Iran, suggesting that short-term costs are acceptable for long-term security.
Scott Bessent comments that temporary economic hardships are acceptable to mitigate the significant risks posed by a nuclear-capable Iran, expressing confidence that the conflict will eventually subside.
Treasury Secretary Scott Bessent discusses the impact of the Iran conflict on global energy prices, stating that temporary economic pain is acceptable to eliminate the risk of a nuclear Iran.
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