US Treasury Secretary Scott Bessent has described the recent inflation surge, attributed to the ongoing Iran conflict, as a 'short-term blip.' Speaking at a congressional committee hearing, Bessent defended the economic policies of Donald Trump's administration, emphasizing that the current rise in prices is temporary. He assured that aside from inflation, the economic indicators remain robust, suggesting a strong economic outlook once prices stabilize. Bessent's comments come as the administration faces increasing pressure to manage the economic fallout from the conflict. He expressed confidence that the elevated prices are temporary and will eventually decrease, reinforcing the administration's stance on maintaining economic stability despite geopolitical tensions.