Back to today’s briefing

Story perspectives

Inflation for Working-Class Americans Estimated at 35%

7/31/2025

50 10

Summary

Story summary

Treasury Secretary Scott Bessent argues that official inflation figures fail to reflect the true economic challenges faced by working-class Americans.
He estimates inflation for this demographic at 32-35%, contrasting it with a mere 16% wage growth.
Bessent commended Donald Trump for significant wage increases during his presidency.
He presented the administration's strategy to tackle the ongoing affordability crisis.

1 of 1

Story summary

Treasury Secretary Scott Bessent argues that official inflation figures fail to reflect the true economic challenges faced by working-class Americans.
He estimates inflation for this demographic at 32-35%, contrasting it with a mere 16% wage growth.
Bessent commended Donald Trump for significant wage increases during his presidency.
He presented the administration's strategy to tackle the ongoing affordability crisis.