Show me where communism has ever worked before—whether it’s the Soviet Union, Cuba, or Venezuela. With these policies, you always end up with less. Core inflation, which came out days ago, was 2.5%—a very good number, moving toward the Fed’s 2% target. What we’ve seen over the past year is that wages for the bottom 25% of working Americans were up 5.5%.

Scott Bessent criticized communist economies, citing Venezuela and the Soviet Union as examples of policy failures. He highlighted positive economic indicators in the US, including core inflation near the Fed's target and strong wage growth for lower-income workers.