Has America’s economy gone K-shaped? Here’s what to know
The U.S. economy is pulling apart: Booming for some, breaking for many.
In other words, it’s looking K-shaped — one branch climbs while the other falls.
For those on the upper arm, things are going well. The top 10% of U.S. households now account for nearly half of all consumer spending, buoyed by record stock market highs. Hourly pay is now rising fastest for the highest earners, reversing a pandemic-era trend that favored the lowest-paid workers, according to the Federal Reserve Bank of Atlanta.
