Treasury Secretary Scott Bessent blamed former President Joe Biden for President Donald Trump’s struggling economy, but it quickly backfired.

Bessent attempted passing the buck off to Biden on Sunday after host Kristen Welker asked if Trump’s policies are driving up inflation. She posed the question after mentioning that U.S. consumer prices increased last month at the fastest pace in five months to 3.7%.

“Kristen, we have an energy shock,” Bessent replied during NBC’s “Meet the Press.” “And if you look underneath the hood in the numbers, core inflation has been very flat before this month, and it’d been down for four months in a row. So core inflation is down. Food is below the Fed’s target.”

He continued, “Prescription drugs have had the biggest decrease in history. Rents are down. So this is an energy shock. We will get to the other side of the Iran conflict, and those prices will come down.”

Welker quickly fact-checked him, replying, “Well, core inflation doesn’t take energy, for example, into account or food into account. And in fact, the price of gas is up 44%, Mr. Secretary, since the start of the war with Iran.”

She then asked Bessent what he would say to voters right now who are struggling in this economy and want to see a change.

Bessent pointed at Biden in response.

“Well, why don’t we revisit the Biden-era policies where the American people got smoked? 21.5% inflation and only about 17% wage increases. Since President Trump has started, the American people have gotten real wage increases, 1.5%. We’re not satisfied with that.”

Bessent added, “But as I said, we’re getting these wage increases through our economic policies. And the wage increases are going to be persistent. We will get to the other side of the Iran conflict, and I believe that the energy markets are going to be better supplied than they were.”

Welker called out Bessent for blaming Biden before reminding him that Trump has been in office for a total of 636 days as the economy continues facing challenges.

“That’s about a year and a half, and inflation was at 3% when [Trump] took office. It’s 3.7% now,” she said. When will the Trump administration “take responsibility for the economy and say this is the Trump economy?” she asked.

Bessent replied, “Well, we will own the economy. So far this year, we’ve got a million private-sector jobs.”

Claiming to Welker that “we’ve never had this many people working in the U.S.,” he added, “The net worth of American households are the highest that it’s ever been. So, Kristen, let’s be clear here. This is an energy supply side shock. We will get to the other side of this. This is one factor.”

Welker doubled down by noting that “even President Trump has said this is his economy.” She then asked Bessent if he anticipates gas prices decreasing before the new year.

“Well, again, it will depend on what happens with the Iran conflict,” he responded.

Watch the exchange below.

By entering your email and clicking Sign Up, you're agreeing to let us send you customized marketing messages about us and our advertising partners. You are also agreeing to our Terms of Service and Privacy Policy.