Summary
Treasury Secretary Scott Bessent suggested that people could lower inflation by moving from blue states to red states, as red states reportedly have lower inflation rates. This idea has sparked a mix of responses, with some supporting it and others criticizing the practicality of moving to save on inflation costs.
Key Facts
- Scott Bessent suggested moving to red states to reduce inflation rates.
- He mentioned a 0.5 percent higher inflation rate in blue states compared to red states.
- The Bureau of Labor Statistics found lower inflation in the South, where states voted for Trump in 2024.
- The Council of Economic Advisers has not publicly released the analysis cited by Bessent.
- Some social media users criticized the feasibility of moving to a new state to save on costs.
- Higher median incomes in blue states can help offset higher living costs.
- Inflation in the U.S. remains above the Federal Reserve's target of 2 percent.
- There is debate over whether moving would actually improve financial situations, considering potential income changes.
