Bessent defends claim K-shaped economy is over before Congress
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Treasury Secretary Scott Bessent testified before Congress for nearly four hours on Wednesday, defending his claim that the K-shaped economy is over. Rep. Ritchie Torres challenged the assertion, pressing Bessent on whether the economic divide between higher- and lower-income Americans has truly narrowed.
Key Facts
- Scott Bessent testified before Congress for nearly four hours on Wednesday.
- Rep. Ritchie Torres challenged Bessent's claim that the K-shaped economy is over.
- Bessent made the 'K-shaped economy is over' comment in a recent interview.
The Testimony
Treasury Secretary Scott Bessent testified before Congress on Wednesday for nearly four hours. Lawmakers questioned him on inflation, the US economy, tariffs, the federal deficit, and the administration's economic policies. Rep. Ritchie Torres pressed Bessent on his recent interview statement that 'the K-shaped economy is over.'
The Challenge
Torres challenged whether the economic divide between higher- and lower-income Americans has truly narrowed. The exchange occurred as households continue to face different financial realities.
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