He must think we're all children!
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Headline: New York Times, 8/5/2026
Alan Rappeport reports:
Treasury Secretary Scott Bessent downplayed the impact of inflation on lower-income Americans, declaring this week that the “K-shaped” economy — shorthand for the divergent fortunes of the rich and poor — is a thing of the past.
The comments came at a moment when consumer sentiment remains low and voters continue to give President Trump negative marks on his handling of the economy. With midterm elections in just three months, Mr. Bessent has continually tried to talk up the economy. But despite promises of lower prices, the U.S. has continued to confront inflationary pressures that have been amplified by tariffs and the war in Iran, which has increased the cost of gasoline.
Mr. Bessent suggested that those economic concerns are overblown.
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