K-shaped economy is dead in US? Robert Reich points to McDonald's earnings — ‘Even CEOs are admitting...’
Robert Reich pushed back against Bessent’s view, saying that the idea that the K-shaped economy is “dead” wrong.
Treasury Secretary Scott Bessent claimed that the K-shaped economy is over in the US, stating that lower-income workers are beginning to regain ground in terms of wages. However, economist Robert Reich disputes this view, pointing to McDonald's earnings and consumer behavior as evidence that the K-shaped economy is still very much alive.
Reich argues that stagnant wages and inflation are weakening the buying power of lower-income households and that the contrast shows a two-tier economy, with those earning more than $100,000 in a stronger position while middle- and lower-income consumers face greater pressure.
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