U.S. Treasury Secretary Scott Bessent said on Wednesday that the economy will ‌be slower this quarter ​amid the Iran war, but it is ⁠in good shape and ​will rebound, adding that oil prices ⁠do not appear to be weighing on inflation expectations.

In an ‌interview on CNBC, ​Bessent said micro ‌data points on the U.S. ‌economy were great and the Treasury Department would watch retail ⁠gasoline sales ‌for consumers.

"We'll ⁠be looking at Treasury to ⁠try ⁠to keep the retail gas stations ‌honest -- that you did this on the way up, ‌better ​be doing this ‌on the way down," he said.