President Donald Trump directed Treasury Secretary Scott Bessent to report to the White House Situation Room while the administration monitored the financial implications of the conflict involving Iran.
Bessent, 63, was speaking with Wilfred Frost for “The Master Investor Podcast” on Thursday inside the Treasury Department’s Cash Room when an aide interrupted the interview about 13 minutes into the conversation to deliver the request.
“The president wants you right away,” the aide told Bessent from off-camera, according to a clip shared on X.
A microphone was removed from Bessent’s jacket as he left the building at 10:22 a.m., according to the outlet’s timestamp.
Some thought that Bessent seemed “visibly shaken” when he returned to the interview approximately an hour-and-a-half later.
Bessent told Frost he discussed a “plethora of things” during his meeting with the president.
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Meanwhile, Frost questioned Bessent on Trump’s mood after the urgent request to head across the street to the White House.
“The president is in great spirits, the Iranian mission is proceeding well ahead of schedule,” Bessent said before revealing that his teenager is considering joining the military.
“I can give this team my highest compliment from President Trump, to the head of the Joint Chiefs, to the Secretary of War. I would trust my child’s life in their hands,” he said.
The interview shifted to the ongoing Iranian conflict, which escalated on February 28 when the United States launched Operation Epic Fury as part of a larger joint operation with Israel that resulted in the death of Iranian Supreme Leader Ali Khamenei.
Frost noted the recent surge of the US dollar, which reached a high earlier this week, while other financial indicators have suffered due to the ongoing war, the New York Post reported.
A significant part of this financial influx is attributed to the Iranian regime, now led by newly appointed Supreme Leader Mojtaba Khamenei, which has imposed strict controls on the vital shipping lane in the Persian Gulf, the Strait of Hormuz, using it as a “tool to pressure the enemy.”
Bessent stated that the US could start escorting international ships through the channel when the threat of an Iranian attack is removed.
“My belief is that as soon as it is militarily possible, the US Navy, perhaps with an international coalition, will be escorting vessels through,” he said.
US officials were concerned that Iran might have placed underwater mines to obstruct shipping lanes, although no evidence of the explosives has been discovered.
“There are, in fact, tankers coming through now, Iranian tankers, I believe some Chinese-flag tankers have come through. So we know that they have not mined the straits,” Bessent said.
The Treasury secretary did not confirm or deny if the topic of naval escorts had been discussed during his meeting with Trump at the White House.
“Your words, not mine,” he said.
He later disclosed that the operation cost the United States approximately $11 billion, stating that no expense was too great for Trump, according to Sky News.
Energy Secretary Chris Wright discussed the potential for escorts in the strait; however, he did not provide a timeline.
“It’ll happen relatively soon, but it can’t happen now,” Wright told CNBC.
“We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and the manufacturing industry that supplies their offensive capabilities,” Wright said.
The Strait of Hormuz will stay closed until the war is over, according to a statement allegedly issued on Thursday by the new Iranian Supreme Leader, Mojtaba Khamenei. A news anchor on Iranian state television read the message regarding the Strait of Hormuz, a crucial route through which a large portion of the world’s oil passes.