Bessent: US facing energy shock, inflation to ease when Iran war ends

The notable element is the explicit linkage of US inflation to a geopolitical outcome rather than to domestic policy or demand, which frames price relief as contingent on an event Washington does not control. For crypto and RWA markets, that framing matters because it keeps the macro backdrop hostage to headlines out of the Middle East, sustaining the kind of headline-driven volatility that has dominated rate expectations. The absence of any timeline is itself the signal: watch whether officials begin pairing the inflation call with a horizon, and whether energy-driven price pressure starts showing up in the data Bessent is referencing.