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Bessent says K-shaped economy is 'dead,' contradicting economic data

Trump Treasury Secretary Scott Bessent claims the widening rich-poor gap no longer exists, despite contrary evidence.

10 items3.9k engagement201 comments PressBlueskyGoogle News

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Summary, timeline and people extracted by Claude from 10 items across 3 sources · 21h ago. Quotes are verbatim.

Treasury Secretary Scott Bessent declared this week that the K-shaped economy—the widening economic gap between rich and poor—is "dead" or "over." His claim contradicts available economic data showing persistent inequality, and has drawn criticism from observers including economist Robert Reich, who noted that even CEOs acknowledge the problem exists.

  • Treasury Secretary Scott Bessent declared the K-shaped economy "dead" or "over" in early August 2026, contradicting available economic data.
  • The K-shaped economy describes uneven economic outcomes and widening gaps between high-income and low-income Americans.
  • Economist Robert Reich challenged Bessent's claim as false, noting CEOs themselves acknowledge the problem exists.

How it unfolded

  1. Reaction Robert Reich challenges Bessent's claim

    Economist Robert Reich posts on Bluesky calling Bessent's declaration "Hogwash," arguing the K-shaped economy is alive and that CEOs themselves admit it is a problem.

  2. Report The Hill reports Bessent's statement

    The Hill publishes article explaining that the K-shaped economy describes uneven economic outcomes between high- and low-income Americans.

  3. Report NYT reports Bessent's K-shaped economy declaration

    New York Times Business section reports that Bessent declared the widening gap between rich and poor "dead" despite data to the contrary.

  4. Event Bessent dismisses K-shaped economy on CNBC

    Treasury Secretary Scott Bessent told CNBC he is tired of hearing about the K-shaped economy and declared it is "over."

What people are saying verbatim

“I get sick of hearing about this 'K-shaped economy'. .. The 'K-shaped economy' is over.”

Scott Bessent, Treasury Secretary · CNBC (via Bluesky post by carlquintanilla.bsky.social) · Aug 3

“Not only is the K-shaped economy very much alive, even CEOs are admitting it's a problem.”

Robert Reich, Economist · Bluesky · Aug 7

“Hogwash.”

Robert Reich, Economist · Bluesky · Aug 7

Voices from the web unedited

  • Trump Treasury Secretary Scott Bessent said this week the K-shaped economy — the widening economic gap between the rich and the poor — is "dead." Hogwash. Not only is the K-shaped economy very much alive, even CEOs are admitting it's a problem. Watch.

    rbreich.bsky.socialBluesky1d ago3.3k▲view on Bluesky ↗

  • BESSENT on CNBC: "I get sick of hearing about this 'K-shaped economy'. .. The 'K-shaped economy' is over." @cnbc.com

    carlquintanilla.bsky.socialBluesky6d ago289▲view on Bluesky ↗

  • Economists HAVEN'T been talking about a k-shaped economy or crippling inflation. Those are popular resentments that have leaked into political discourse, but aren't really based in fact.

    whstancil.bsky.socialBluesky3d ago128▲view on Bluesky ↗