Bessent backs $250 bill mockup with Trump image
Treasury Secretary Scott Bessent hosted the White House press briefing on Thursday and said bessent had prepared a mockup of a $250 bill bearing President Trump’s face. He said the idea would require an act of Congress, while Treasury needs to be ready if lawmakers move first.
Trump Currency Proposal
Bessent said he did not see anything wrong with having Trump on the currency to honor the country’s 250th birthday. He tied the mockup to the possibility of future legislation, not to an immediate change in U.S. money. Current law does not allow the image of a living person on U.S. currency.
The secretary’s endorsement made the proposal part of a live briefing, giving it a procedural step it had not had before. Treasury’s preparation of a mockup suggests the department is treating the idea as something that could reach Congress rather than as a purely symbolic suggestion.
Inflation and Gas Prices
The currency discussion came as the Personal Consumption Expenditures index accelerated in April to a three-year high. Prices rose 3.8 percent from the same time last year, core inflation increased at an annual pace of 3.3 percent, overall prices jumped 0.4 percent on a monthly basis, and prices excluding food and energy rose 0.2 percent on a monthly basis.
Bessent said lower inflation and falling gas prices could follow once the Iran war is resolved. He said oil and gas prices could "come down very quickly" and added that "the oil market is going to be very well supplied on the other side of this." He would not say whether a deal to end the war was nearing completion or whether sanctions relief for Iran would be part of it.
Kevin Warsh Breakfast
Bessent also said he had his first breakfast on Thursday with Kevin Warsh, the new chair of the Federal Reserve. He said he was confident Warsh would balance inflation and growth at the central bank. When asked about a 100 percent tax proposal from Gov. Gavin Newsom of California, Bessent said, "There’s no cure for stupid."
For readers watching the currency idea, the next step is in Congress: without legislation, the $250 bill cannot move forward. For readers tracking prices, Bessent tied his outlook to the end of the Iran war, not to any immediate policy shift from Treasury.
