Bifurcated Economy — The rich are spending big, while everyone else is watching every dollar. 50% of food stamp benefits will be paid. GOOLSBEE: Inflation ‘going wrong way’
Third-quarter earnings are indicating a divided economy With more consumer companies preparing to report third-quarter earnings this week, Wall Street will be watching for signs of a bifurcated or “K-shaped” economy as consumers diverge in their spending behaviors. There have been increasing signals that wealthier Americans are spending more while lower-income Americans are significantly paring …
