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Saturday, August 8, 2026

Pundit-Driven K-Shaped Economy Narrative Does Not Hold Up: Bessent

 A familiar act of mainstream media sophistry: work backward from a partisan verdict and then call the result analysis.

The truth is wages are up for Americans across the distribution, but importantly earnings growth for Main Street workers at the 25th earnings percentile was 5.5% year over year in the latest data this past quarter—more than three times the growth experienced by workers at the 75th percentile. Median weekly earnings also rose a robust 4.6%, well outpacing inflation. This marks a stark improvement from the loss of purchasing power Main Street Americans experienced during the Biden Administration. Families have not forgotten the pain of Biden-era policies. But President Trump is turning the tide. The fact is, lower-wage workers are leading, median workers are gaining, and the pundit-driven K-shaped economy narrative does not hold up. BLS has published the wage data for all to see, including journalists willing to look past the haze of their hostility toward the President.

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