The Wealthy Keep Spending: Will the Economy Follow?
Is the US economy dangerously dependent on the wealthy? New data reveals almost all spending growth since the pandemic comes from the richest households, while most Americans struggle to keep up with inflation. Could a pullback from the top trigger a recession? We dive into Moody's analysis, explore the widening spending gap, and examine the surprising strength of consumer spending amid economic uncertainty. Hosted on Acast. See acast.com/privacy for more information.