Two harsh realities are keeping lower earners stuck while the wealthy pull ahead - Business Insider
The prongs of the K-shaped economy are being propped up by two dreary economic realities: lower earners are getting hit harder by inflation, and left behind by blockbuster stock market gains.A new analysis from the Federal Reserve Bank of New York looks at how the US economy slowly morphed into a K-shape where higher earners are thriving, or at least holding steady, and lower earners' economic fortunes are backsliding. It's a post-pandemic development, after a robust labor market and pandemic-era stimulus bolstered the economy's lowest earners.