Treasury’s Bessent Says PPI Surge Tied Mostly to Investment Services

U.S. Treasury Secretary Bessent said on Tuesday that the bulk of the most recent increase in the Producer Price Index was driven by investment-services costs, arguing the jump largely reflects higher asset prices rather than broad-based inflationary pressure. Bessent added that Monday had been an "optimistic" day for financial markets, reinforcing her view that the underlying economic environment remains supportive despite the headline uptick in wholesale inflation.