Treasury Secretary Bessent Forecasts Lower Gas Prices and Praises Tax Season

April 16, 2026 - 02:32

Treasury Secretary Scott Bessent expressed strong optimism about the nation's economic outlook during a White House press briefing, forecasting a significant drop in fuel costs and praising the recent tax filing period.

Bessent confidently predicted that the national average for gasoline prices will fall to three dollars per gallon. He provided a specific window for this decline, stating it will occur "sometime between June 20th and September 20th." This projection offers potential relief to consumers and businesses grappling with high energy costs.

Reflecting on the Internal Revenue Service's performance, the Secretary declared the just-concluded period an "incredible tax season," highlighting efficient processing and service. He did not elaborate further on specific metrics behind this assessment.

Furthermore, Bessent addressed leadership at the Federal Reserve, voicing his positive outlook on a key nomination. He stated he is "optimistic that Kevin Warsh will be the chair of the Fed on time," signaling administration confidence in a smooth confirmation process for the anticipated nominee. The comments collectively project an image of an administration anticipating near-term economic improvements and stability in key financial institutions.