Scott Bessent, US treasury secretary, speaks during the Trump Accounts Launch Summit in Washington, DC, US, on Wednesday, Jan. 28, 2026. The US Treasury Department is bringing together senior administration officials, everyday Americans, and key stakeholders to highlight the upcoming launch of Trump Accounts. The Biden administration destroyed affordability,” he told ABC News on Wednesday, contending inflation under the Biden administration was the worst in 49 years. “Employers are going to contribute, philanthropists are going to contribute, companies are going to contribute,” Bessent added. JP Morgan and Bank of America announced Wednesday that they will match employees’ “Trump Accounts” by $1,000.