Key facts
- Core inflation has fallen to 2.5%.
- Lower-paid American workers are experiencing wage growth of 5.5%.
- Higher earners are experiencing wage growth of 1.5%.
- The economic distribution is described as more equitable.
- Treasury Secretary Scott Bessent made these statements.
Treasury Secretary Scott Bessent announced that core inflation in the United States has fallen to 2.5%. He further detailed that lower-paid American workers are experiencing wage growth at a rate of 5.5%. This figure stands in contrast to the 1.5% wage increase observed among higher earners. Bessent indicated that this trend suggests a more equitable distribution of economic gains, with a greater proportion of wage growth benefiting those in lower income brackets. The data points to a potential shift in economic prosperity, with the benefits of growth reaching a broader segment of the population.