Bessent says K-shaped economy is ‘over’

The letter "K" has become a popular way to describe uneven economic outcomes between high- and low-income Americans.

Treasury Secretary Scott Bessent says the K-shaped economy is over, but the data and many economists tell a different story. “I do believe the core inflation is slowing,” Bessent said in an interview with CNBC on Tuesday. “I got sick of hearing about this K-shaped economy. I can say here definitively, the K-shaped econ