Treasury Secretary Scott Bessent took a seasoned CBS News anchor to school, brushing off previous warnings she made concerning inflation during an interview on her Sunday news program. With this one rebuttal, Bessent waved away months of skepticism concerning President Donald Trump’s economic policies.

Bessent made an appearance on “Face the Nation,” where he squared off against anchor Margaret Brennan on the topic of the president’s tariffs and the alleged threat they pose to Americans’ bank accounts.

Months prior to the interview, Brennan posed similar questions as she regurgitated lines from left-leaning economists who predicted prices would spike and inflation would skyrocket.

However, during their conversation on Sunday, Bessent swatted away these concerns with pure, unadulterated joy.

“Margaret, when we were here in March, you said there was going to be big inflation. There hasn’t been any inflation,” Bessent said, with a smile of satisfaction.

A recent Labor Department report revealed that the increase in consumer prices had finally cooled off, hitting its lowest level in over four years. Many say this news is what led to Bessent’s victory lap on the program.

During the month of April, the consumer price index showed a 2.3 percent year-over-year rise, which is down from 2.4 percent in March. This is in sharp contrast to the predictions of economists who sounded the alarm when President Trump first rolled out his tariffs at the start of April.

“Actually, the inflation numbers are the best in four years. So why don’t we stop trying to say this could happen, and wait and see what does happen,” Bessent continued.

When a reference was made to a column by GOP strategist Karl Rove, published in the Wall Street Journal, that warned tariffs could damage the Republican Party’s prospects for future elections, Bessent dismissed it.

He cited a South China Morning Post article that spoke of how Chinese suppliers are now taking 66 percent of the tariff burden, which is cushioning the blow for American consumers.

”What we are trying to do is to de-risk,” he told Brennan. ”We do not want to decouple, Margaret, but we do need to de-risk.”

Bessent’s comments reveal a shift in the administration’s trade policy, one that’s dedicated to reducing the country’s reliance on China for both semiconductors and pharmaceuticals.

”What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe, and that is not what a reliable partner does,” Bessent remarked.

As Brennan continued to press the Treasury secretary on the risks of increasing trade tensions, Bessent remained unfazed.

He acknowledged that talks with the Chinese government had “been a bit stalled,” but added that the White House was confident that Trump and Chinese President Xi Jinping would be able to settle their differences.

Bessent also stood his ground on the topic of the U.S. debt ceiling, pulling no punches with Brennan.

”The United States of America is never going to default. That is never going to happen. We are on the warning track and we will never hit the wall,” he stated during the interview.

The seemingly unflappable Bessent also took down JPMorgan Chase CEO Jamie Dimon’s prediction of a bond market crisis.

”I’ve known Jamie for a long time, and for his entire career he’s made predictions like this. Fortunately none of them have come true. That’s why he’s a great banker – he tries to look around the corner,” Bessent said.

When it came to Trump’s tariffs, he was stalwart in his position, despite concerns they would have a negative impact on industries like construction.

”So is it going to impact the construction industry? Maybe,” Bessent admitted. ”But it’s going to impact the steel industry in a great way.”