In an exclusive interview with CBS News, Treasury Secretary **Scott Bessent** addressed the recent disclosure of President Trump's massive crypto earnings, stating he sees **no appearance problem**. 

According to a financial disclosure released this week, Mr. Trump has earned approximately **$1.4 billion** from his crypto ventures since beginning his second term, including his "meme coin" **$TRUMP** and earnings from **World Liberty Financial**. Congressional Democrats have criticized this windfall, arguing it presents a conflict of interest given the administration's push to loosen crypto regulations.

Bessent framed the administration as an **"innovation presidency"** benefiting all Americans through digital access, AI, and the tech ecosystem. White House spokesperson Anna Kelly also stated there are **"no conflicts of interest."**

### Economic Relief on the Horizon

Bessent addressed the economic strain from the Iran war, which has driven inflation to **4.2%** and gas prices to $3.83 per gallon. He expressed hope that gas prices could drop to **$3 per gallon** by Labor Day, noting that the administration is nudging retailers to lower prices.

Despite a weaker-than-expected June jobs report (57,000 jobs added, below predictions), Bessent described the gap between wage growth (3.5%) and inflation as a **"short-term spike"** and expects **real wage gains** as soon as this month. He believes the stock market's strong performance is predictive of economic recovery.

### Trump Accounts: A Tool for Financial Literacy

The White House announced that starting July 4, Americans can contribute to **Trump Accounts**—a federal program helping children under 18 invest in the stock market. Bessent noted that **38% of U.S. households** have no equity market investments, and the program aims to change that.

Over **6 million accounts** have been opened so far, and the government will contribute **$1,000** to eligible children born between Jan 1, 2025, and Dec 31, 2028. Wealthy philanthropists like Michael Dell have already donated billions. Bessent emphasized the goal of teaching families the power of **long-term compounding**.

Treasury Secretary Scott Bessent touched on the recent disclosure of President Trump&#039;s crypto earnings, the latest developments with the tax-deferred Trump Accounts, and the struggles facing the U.S. economy.

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