[Video] Scott Bessent: U.S. economy partially in recession, wealth gains uneven

Video: Scott Bessent discusses the U.S. economy, stating it is partially in a recession and that wealth gains are unevenly distributed. He notes that discretionary businesses like Chipotle are experiencing reduced consumer spending due to economic pressures on middle-income consumers. Bessent highlights that the "good shape" he refers to applies to the top quartile of earners who benefit from rising markets, while others face higher borrowing costs, stagnant wage growth, and persistent inflation.

Video taken on Sunday, November 2, 2025.