K-shaped Economy Remains Pronounced as Credit Conditions Diverge
A new report by TransUnion highlights the growing divide in the U.S. economy, with high-income households driving consumer spending while lower-income households face rising debt and costs. The K-shaped economy, where different segments of the population experience divergent economic outcomes, is becoming more pronounced, according to the Federal Reserve Bank of New York and TransUnion.
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Topics: consumer spending credit conditions economic bifurcation income inequality K-shaped economy