US 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 US 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.