Treasury Secretary Scott Bessent said Friday he will not be intimidated by death threats he says Iran's leadership has made against him, and that the threats are proof the administration's economic pressure campaign is working.
"I'm not going to be cowered that they have initiated death threats against me," Bessent said on CNBC's "Squawk Box." "The other members of the Cabinet were not going to be cowered. And it means what we are doing with Operation Economic Outcast is working."
"Why am I going to be afraid when the brave military personnel in the Gulf, President Trump, constantly receives death threats?" he said. "And the IRGC, they're like a dangerous cornered animal."
Bessent confirmed he had moved from his home to a military base on Secret Service instructions. He blamed The Wall Street Journal in part, saying the paper had printed a geolocated photo of his house after his team pleaded with its editor not to, which he called "highly irresponsible and dangerous."
On the blockade, Bessent said tanker traffic through the Strait of Hormuz has topped pre-war levels on some nights, with "mid-20 million barrels" moving one recent night. "Right now, Becky, the score, since we put up the blockade, is about U.S.A. 1.7 billion barrels, Iran zero," he said. "It's going to be a long, cold winter for the Iranians."
He said Tehran had missed its chance. "They were offered a deal, and they probably would have gotten a better deal before the election. Now, President Trump doesn't think we need a deal, and we're just going to keep squeezing them," Bessent said, adding that the war was worth it because "President Trump took action that had been needed for 47 years."
Bessent said the price spike is an energy shock, not runaway inflation: oil is down $20 a barrel this month, gasoline is back below $4 a gallon and diesel is down 10%. "Once we get this behind us, the American people will be able to feel the strength of the economy," he said.
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