WASHINGTON — Treasury Secretary Scott Bessent on Thursday hailed President Donald Trump’s new “Trump Accounts” initiative as a landmark program for young Americans’ financial futures while touting energy market gains, outlining a firm stance on Iran negotiations and rejecting a central bank digital currency.
Bessent, filling in for Press Secretary Karoline Leavitt who is on maternity leave, fielded questions in the White House briefing room on a range of economic and policy matters amid ongoing global tensions.
The secretary spotlighted the launch of the Trump Accounts app, available on major platforms, as a key component of the administration’s efforts to promote financial literacy and savings among younger generations.
“Trump Accounts, I believe, are the most important benefit for young people since the GI Bill. Today, the app is now available on all major platforms, bringing the president’s vision directly to American homes,” Bessent said.
He added that the program represents “one of the greatest real-time financial literacy educations in history.”
On energy markets, Bessent pointed to declining natural gas prices and predicted further relief for consumers.
“Natural gas is down. It’s my belief, and the futures market is showing us, oil will be lower than pre-conflict levels,” he said. “We’re more resilient to energy price fluctuations due to President Trump’s energy dominance and deregulatory agenda.”
Bessent addressed the administration’s approach to Iran, emphasizing conditions for any agreement following recent conflicts.
“President Trump has made it very clear,” Bessent stated. “Iran has to turn over their highly enriched uranium. They can not pursue a nuclear weapon, and the Strait of Hormuz has to [have] free transit […] He’s not going to take a bad deal. He’s going to make a great deal for the American people.”
He noted the president’s emphasis on maritime freedom, saying Trump “wanted to punctuate freedom of navigation in the Strait” in relation to Oman.
The Treasury chief also firmly opposed the creation of a central bank digital currency, citing privacy concerns.
“This Administration’s been very clear. There will be no Central Bank Digital Currency, which I think would be the first step toward tracking,” Bessent said. “The most important thing we could do is to make digital assets come into the United States.”
Bessent defended the administration’s proposed Anti-Weaponization Fund, linking it to past government actions against the president.
“President Trump is a great American who has endured more than 10 years of nonstop harassment and weaponization from federal and state government actors,” he said. “A bad actor at the IRS leaked more than 400,000 tax returns, including the Trump family, all the employees, and that’s how we got here.”
In a lighter but pointed moment, Bessent responded to California Gov. Gavin Newsom’s reported criticism of the fund by saying, “There’s no cure for stupid.”
The briefing came as the administration continues to reap the benefits of its energy dominance policies in the wake of the recent conflict with Iran.
Bessent expressed strong optimism that sustained deregulation and American energy production will drive oil and natural gas prices even lower, further strengthening economic resilience and delivering relief for families and businesses.
No major new policy announcements were made, but the briefing also highlighted the Treasury Department’s role in advancing Trump’s economic agenda, including digital asset regulation and support for American families.
