K-Shaped Economy: Lower Incomes Struggle as Wealthy Thrive

Economic experts warn of a growing divide in the US economy, with lower-income households facing significant financial strain as inflation holds steady at three percent. Despite the overall economy appearing stable, a K-shaped recovery means the wealthy continue to thrive while others struggle. Recent job cuts and a cooling labor market add to concerns, potentially impacting the entire economy if lower-income households reduce spending.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.