U.S. Treasury Secretary Scott Bessent on Tuesday took issue with cuts in global growth forecasts and higher inflation projections announced by the International Monetary Fund and World Bank as a result of the war in the Middle East, saying the institutions had probably "overreacted." "I think that they probably overreacted, but we'll see," Bessent told reporters, noting ​that some countries in Europe and Asia were adopting consumer or industrial subsidies to deal with supply disruptions that could lead to higher persistent inflation there. However, he said he was confident that the U.S. would cycle through higher ... (full story)