Treasury Secretary Scott Bessent said the economy is seeing peace dividends as a result of President Donald Trump‘s peace deals, noting “if something happens down in Venezuela,” oil prices could lower.

Bessent made the comments Thursday evening when talking about his confidence in job growth and economic momentum in an appearance on Fox News’s The Ingraham Angle.

“The peace deals — we are seeing a peace dividend from that. And I think there’s a very good chance that if something happens with Russia, Ukraine, if something happens down in Venezuela, that we could really see oil prices go down even more,” Bessent said.

Bessent’s remarks come as tensions have heightened with Venezuela, with the United States carrying out over 20 military strikes on alleged drug-carrying boats in the Caribbean off the coast of the South American country. Bessent did not elaborate on what he meant by “if something happens down in Venezuela,” and the Treasury Department did not respond to the Washington Examiner’s after-hours request for comment.

Bessent’s message of affordability falls in line with Trump administration’s renewed focus on the topic in the wake of the cost of living being a major issue in the November elections. The administration has touted its efforts to lower prices, blaming the Biden administration for much of its economic and inflation troubles.

“Oil and gasoline prices are down substantially under President Trump. And that is really the key to affordability, is lower energy. And energy goes into food prices,” Bessent said.

Though it has fluctuated throughout the year, all grade retail gas prices are generally lower on a month-to-month basis than they were in 2024, according to the Energy Information Administration. Per agency data, the average all-grade, all-formulation retail gas price in October 2025 was $3.19, which is less than the $3.26 average in October 2024.

But voters are still worried about the cost of living and the state of inflation in 2025, a Fox News poll found, leaving Vice President JD Vance asking the nation for “patience” when it comes to economic windfalls hitting their pockets.

TRUMP TELLS SCOTT BESSENT ‘I’M GOING TO FIRE YOUR ASS’ IF HE DOESN’T GET FED ‘FIXED FAST’

Bessent says he’s “very confident about job growth and the momentum that we’ve got for next year.”

“I think what it is going to take is for people to see what the President has done. I keep saying, peace deals, trade deals, and tax deals. So we did the One Big, Beautiful Bill in July, and we are seeing a cap-ex boom thanks to that. Historically, capital expenditure is always followed by job growth,” Bessent said.

, 2025-11-21 03:24:00, , Washington Examiner, %%https://www.washingtonexaminer.com/wp-content/uploads/2023/11/cropped-favicon.png?w=32, https://www.washingtonexaminer.com/feed/, Molly Parks