Treasury Secretary Scott Bessent took a pointed jab at liberal media during a Senate Banking Committee hearing Thursday, drawing laughs from lawmakers as he argued that misleading news coverage is undermining public confidence in the economy.
Bessent was testifying about economic conditions during President Donald Trump’s first year in office when Sen. Pete Ricketts of Nebraska raised concerns about a noticeable gap between positive economic data and how Americans feel about the economy. Ricketts noted that while reports show progress, consumer confidence has not rebounded accordingly, and asked what lawmakers could do to help restore trust—particularly after inflation reached 40-year highs under the Biden administration.
“Despite all this progress, we’re seeing consumer confidence is not really rebounding the way that the economy seems to be,” Ricketts said, asking what role the Senate could play in improving confidence among consumers.
Bessent responded bluntly, immediately pointing to the media as a major factor shaping public perception.
“Other than telling consumers to turn off MSNBC,” he said, referring to the network by its former name rather than its current branding. The remark sparked loud laughter throughout the hearing room, including from Senate Banking Committee Chairman Tim Scott of South Carolina.
.@SenatorRicketts: "What more could we be doing in the Senate…to be able to help out with confidence…of consumers"@SecScottBessent: "Other than telling consumers to turn off MSNBC…it is a survey problem, where Democrats vote very low and Republicans are more realistic." pic.twitter.com/HgwM2YULv5
— CSPAN (@cspan) February 5, 2026
Bessent continued by arguing that consumer confidence surveys themselves can be misleading. He suggested that the results are often skewed by partisan bias, with Democrats consistently rating economic conditions more negatively, while Republicans take what he described as a more realistic view. That imbalance, he said, can distort the overall picture presented to the public.
Before Bessent could fully expand on his answer, Scott interjected to note that Ricketts’ time had expired and that the committee needed to move on. Still smiling, Scott told Bessent that he appreciated the comment, prompting more chuckles from those in attendance.
The moment underscored a broader Republican argument that negative media narratives are driving pessimism even as economic indicators improve. Administration officials have repeatedly accused major media outlets of downplaying progress while amplifying fear and uncertainty, contributing to a disconnect between economic reality and public sentiment.
Bessent later found himself in a tense exchange with Sen. Elizabeth Warren of Massachusetts, who questioned him about President Trump’s recent use of the word “hoax” when referring to the affordability crisis. Warren pressed Bessent on whether he agreed with that characterization.
Bessent carefully clarified the administration’s position, emphasizing more than once that the Trump administration does not believe Americans are not struggling with affordability. Instead, he explained that the president was referring to what the administration sees as a political narrative pushed by Democrats.
According to Bessent, the “hoax” is the attempt to portray the affordability crisis as something newly created by Trump, rather than acknowledging it as a real and ongoing problem rooted in policies enacted during former President Joe Biden’s administration. In his explanation, Democrats are trying to shift responsibility for a long-standing crisis onto Trump while ignoring its origins.
The hearing highlighted sharp partisan divides over both economic policy and messaging. Republicans argued that progress is being overshadowed by hostile media coverage and political spin, while Democrats continued to challenge the administration’s rhetoric. For Bessent, the message was clear: until media-driven pessimism eases, consumer confidence may continue to lag behind the underlying economic data.
