Treasury Secretary Scott Bessent faced intense questioning on Thursday about his department's plans to produce commemorative $250 bills featuring President Donald Trump, as economic tensions escalate. The exchange occurred during a heated press briefing in the White House press room.
Bessent Confirms Design Preparation
CNN's Kaitlan Collins pressed Bessent on whether the initiative is appropriate given that many Americans are struggling with rising costs for gas and groceries. Bessent confirmed that the Treasury Department has prepared a design for the $250 bill, pending congressional approval. He clarified that the president does not initiate the process; rather, it requires action from the House and Senate.
A recent report by The Washington Post, citing four current and former Treasury employees, revealed that U.S. Treasurer Brandon Beach and his senior adviser, Mike Brown, urged staff at the Bureau of Engraving and Printing last year to create prototypes of the bill. British painter Iain Alexander, who designed the mock-up, told the Post he discussed the design with Trump, who endorsed changes to the original artwork.
Bessent's Response to Criticism
When Collins referenced the Post's report, Bessent dismissed it, calling it poorly written and edited. He argued that the Treasury is simply following the law by preparing the bill, with final approval resting with Congress. Collins pressed further, questioning the political wisdom of such a move amid economic hardship.
The clash occurs as the Trump administration faces growing scrutiny over its economic policies. Recent Labor Department data shows producer prices rose 6% last month, while consumer prices have increased 3.8% from April 2025, partly due to the ongoing conflict in Iran costing Americans tens of billions of dollars.
Bessent Defends the Celebration
Bessent argued that Collins' question was misleading, emphasizing that the 250th anniversary celebration is not automatic but funded by private citizens, federal, state, and municipal governments. He concluded that there is nothing inappropriate about featuring the president who was in office during the anniversary on the bill.
