New Delhi, Aug. 10 -- The US economy is moving beyond the K-shaped divide, claimed Treasury Secretary Scott Bessent, but economist Robert Reich pushed back, pointing to McDonald's earnings.

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

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.

Referring to the Bureau of Labour Statistics data, Bessent said weekly earnings for full-time workers are at the 25th percentile and rose 5.5% from a year earlier in the second quarter.

He claimed th...