AIFortuneabout 3 hours ago
Top 20% power 60% of U.S. spending, economist says
4 min read
The richest 20% of American households now account for 60% of personal outlays, up from 50% before the internet bubble, according to Moody's chief economist Mark Zandi. This concentration makes the U.S. economy increasingly dependent on a small subset of households and their stock valuations.
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