Bessent: Iran war could lead to "50 years of stability"

U.S. Treasury Secretary Scott Bessent said the conflict in Iran could ultimately usher in long-term economic stability, bringing in 50 years of stability.

“I think we will look back and say — I don’t know the number of days, whether it’s 50 or 100 or more — for 50 years of stability," Bessent said, speaking on April 13 at the Semafor World Economy Summit in Washington, Semafor reports.

Bessent also said the Federal Reserve should “wait and see” before making any decisions on interest rates amid the ongoing conflict.

“Do I think rates should be lowered? Eventually. I think now that we have to wait and see,” Bessent told Semafor Editor-in-Chief Ben Smith. “But I think as we went into January [and] came out of January and February — the economy was very strong.”

His remarks come as U.S. President Donald Trump has repeatedly pushed for rate cuts during his second term. Bessent said the Fed is currently “doing the right thing by sitting and watching” how the Iran situation develops.

Bessent added that earlier projections for U.S. economic growth may now need revising. He said he had expected the economy to expand by more than 4% this year, but acknowledged the outlook has shifted.

“Obviously, we’re going to have some make-up to do,” he said.

By Sabina Mammadli