Scott Bessent, Amerika'nın "K - Shaped" Ekonomisinin Öldüğünü Söyledi, Ancak Robert Reich, McDonald's'ın Uyarısıyla Geri Döndü: "Çok Canlı, CEO'lar Bile Bunun Bir Sorun Olduğunu Kabul Ediyor"

Scott Bessent Says America's 'K-Shaped' Economy Is Dead, But Robert Reich Fires Back With a McDonald's Warning: 'Very Much Alive, Even CEOs are Admitting It's a Problem'

Tanya Rawat

Tue, August 11, 2026 at 2:31 AM GMT+3 7 min read

MCD +0.16%

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Treasury Secretary Scott Bessent says the U.S. economy is moving beyond the K-shaped divide, but economists and corporate leaders continue to offer mixed views on the health of American consumers.

Bessent said in a CNBC "Squawk Box" interview last week that the "K-shaped" economy is over and that a "C-economy" is emerging, with lower-income workers beginning to regain ground.

Bessent Makes His Case

The K-shaped economy refers to a widening gap between higher- and lower-income Americans, with the two groups experiencing different trends in income, spending and wealth.

Don't Miss:

A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why
Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast

Bessent pointed to Bureau of Labor Statistics data showing weekly earnings for full-time workers at the 25th percentile rose 5.5% from a year earlier in the second quarter, compared with a 1.5% increase for workers at the 75th percentile. He said lower-wage earners are beginning to benefit from faster wage growth, including from policies such as the elimination of taxes on tips.

He said the data showed lower-income workers are "finally clawing it back, just like they did in President Trump's first term."

The Consumer Price Index rose 3.9% over the same period, according to the Bureau of Labor Statistics.

Reich Points To McDonald's

Economist Robert Reich pushed back against Bessent's view in a post on X on Sunday, calling the idea that the K-shaped economy is "dead" wrong.

In a video accompanying the post, Reich pointed to McDonald's Corp and its comments about consumer behavior.

Trump Treasury Secretary Scott Bessent said this week the K-shaped economy — the widening economic gap between the rich and the poor — is "dead."
Hogwash.
Not only is the K-shaped economy very much alive, even CEOs are admitting it's a problem. Watch. pic.twitter.com/rgqp6L2md5

— Robert Reich (@RBReich) August 8, 2026

According to Reich, McDonald's said fast-food chains saw a double-digit decline in visits from lower- and middle-income customers in the first quarter of 2025 because those consumers could not afford it.

Reich said the contrast showed a "two-tier economy," with consumers earning more than $100,000 in a stronger position while middle- and lower-income consumers faced greater pressure.

He also argued that about 70% of the U.S. economy depends on consumer spending and said stagnant wages and inflation were weakening the buying power of lower-income households.

Economists See A Nuanced Picture

Moody's Analytics chief economist Mark Zandi said in June that the K-shaped economy remained "firmly intact," arguing that the top 20% of income earners, those making more than $175,000, continued to drive the economy.

Mark Matthews, chief economist at the National Retail Federation, offered a more measured view in a recent analysis.

"The K-shape persists, but lower-income consumers have increased their spending versus last year," Matthews wrote.

He said that among six of the bottom eight spending groups, discretionary spending grew faster than spending on staples. Consumers "seem to be willing to focus more of their spending on the things they want rather than the things they need," Matthews wrote.

Matthews also warned that "softening wage growth" and "sticky inflation" could make the second half of the year less positive.

Corporate Spending Shows The Divide

Earlier corporate results also offered evidence of a split in consumer behavior.

Ralph Lauren Corp. said its "core consumer continues to be resilient," while Walmart Inc.'s said lower-income consumers were "more budget conscious and perhaps navigating financial distress."

Ralph Lauren had reported a 16% increase in average unit retail, pointing to continued strength among higher-income shoppers. Walmart, meanwhile, said its customers were increasingly looking for value, with average purchases at its fuel stations falling below 10 gallons for the first time since 2022.

Uber Sees A Healthy Consumer

Uber Technologies Inc. CEO Dara Khosrowshahi offered a more optimistic assessment in a Bloomberg interview last week.

"All signs point to a healthy consumer," Khosrowshahi said, pointing to growth across Uber's mobility and delivery businesses.

He said the company was not seeing consumers trade down, leave smaller tips or otherwise pull back.

"We don't see any signs whatsoever of a consumer slowdown," Khosrowshahi said. "So the consumer remains strong."

Khosrowshahi also pointed to driver earnings, saying Uber now has more than 10 million earners globally and that U.S. driver earnings were up 8% year over year.

"People talk about the K-shaped economy, but we think both sides of the K continue to be very healthy," he said.

Image via Shutterstock

Read Next: Think you're saving enough for your kids? You might be dangerously off — see why

Building Wealth Across More Than Just the Market

Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That's why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn't tied to the fortunes of just one company or industry.

Arrived

Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.

Realberry

Institutional-quality real estate has traditionally been difficult for individual investors to access. Realberry gives accredited investors direct access to private real estate opportunities backed by a team with 35 years of experience, $3.4 billion in assets under management, and $481 million in cumulative distributions paid to investors as of Q4 2025, according to the company. With a portfolio spanning 13 million square feet across seven U.S. states, Realberry focuses on acquiring, developing, and managing real estate with an emphasis on long-term value creation while its principals often invest alongside clients to help align interests.

FarmTogether

Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.

Immersed

Immersed is building technology for the future of work through spatial computing. Known for its AR/VR productivity platform that enables users to work across multiple virtual screens, the company has grown to more than 1.5 million users worldwide. Immersed is also developing Visor, a lightweight headset designed specifically for professional productivity, positioning the company at the intersection of remote work, extended reality (XR), and next-generation computing.

Fundrise

Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.

Mode Mobile

Mode Mobile is changing the way people interact with their phones by letting users earn money from the same apps and activities they already use every day. Instead of platforms keeping all the advertising revenue, Mode Mobile shares a portion back with users who engage with content, play games, and scroll on their devices. Named one of Deloitte's fastest-growing software companies in North America, the company has built a large beta user base and is scaling a model that turns everyday smartphone usage into a potential income stream.

EquityMultiple

For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.