The Indicator from Planet Money · Thursday, August 13, 2026
Treasury Secretary Scott Basset stated that the 'K-shaped economy' is over and that the US is now experiencing a 'C-shaped' economy. This implies a shift from a diverging economy where the rich got richer and the poor got poorer, to one where the top is declining and the bottom is improving.
“I can say here definitively the K-shaped economy is over, and we're seeing more of a C economy.”
“The K described an economy that was diverging, with the rich getting richer and the poor getting poorer.”