U.S. Treasury Secretary Scott Bessent, speaking at the Economic Club of New York, acknowledged that Americans' frustration with the economy is understandable due to accumulated price increases and pressure on inflation-adjusted wages, stating "The American people got torched." However, he noted that consumer spending remains resilient, with credit-card delinquencies not worsening. Bessent emphasized the administration is working daily to bring inflation back to target and improve real wage growth, and expects gasoline prices to drop as the Iran war eases. He also highlighted the need for a supply solution in housing, pointing to manufactured housing and restrictions on institutional homebuyers.