US Treasury Secretary Scott Bessent stated that wage gains will continue due to a "manufacturing renaissance" in the United States. He made the remarks while discussing the economic outlook and the ongoing conflict involving Iran, asserting that the US will "get to the other side" of the geopolitical tensions.

AI regulation and corporate control

When asked about CEOs expressing concern over losing control of artificial intelligence and demanding regulation, Bessent responded bluntly. He suggested that if executives are worried about control, they should "slow down." He likened the situation to a dramatic warning, comparing it to "Hannibal Lecter: stop me before I kill again," implying that rapid advancement without caution carries inherent risks.

Economic context and policy stance

Bessent’s comments highlight a dual focus on domestic industrial strength and technological governance. By linking wage growth directly to manufacturing activity, he underscores the administration's view that industrial policy is driving labor market improvements. The reference to the Iran conflict suggests that despite external geopolitical pressures, the Treasury maintains confidence in the resilience of the US economy.

Key takeaways from Bessent's remarks

• Wage growth is attributed to the ongoing manufacturing renaissance.
• Concerns about AI control should be addressed by slowing development pace.
• The US is expected to navigate through the current Iran conflict successfully.

US Treasury Secretary Bessent called on Europe to make additional supplies available and accelerate delivery on existing commitments.

Bessent's call to Europe

The statement from Treasury Secretary Bessent underscores a push for European partners to take concrete steps on two fronts: expanding the availability of additional supplies and moving faster on commitments already in place.