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Bessent Calls for ‘C-Economy’ as low-wage earnings surge, inflation spikes

8/8/2026

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Summary

Story summary

Treasury Secretary Scott Bessent announced the shift from a K-shaped to a “C-economy.”
He cited BLS data showing 25th-percentile weekly earnings rose 5.5 percent year-over-year, versus 1.5 percent for the 75th percentile.
He noted consumer prices rose 3.9 percent and inflation hit 4.2 percent in May, the fastest rise since 2023 after the Iran war spiked energy costs.

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Story summary

Treasury Secretary Scott Bessent announced the shift from a K-shaped to a “C-economy.”
He cited BLS data showing 25th-percentile weekly earnings rose 5.5 percent year-over-year, versus 1.5 percent for the 75th percentile.
He noted consumer prices rose 3.9 percent and inflation hit 4.2 percent in May, the fastest rise since 2023 after the Iran war spiked energy costs.