K-Shaped Economy: Middle & Lower Incomes Face Challenges
Update: 2025-11-18
Description
American Consumer Resilience Faces Challenges: Experts Warn of K-Shaped EconomyMorgan Stanley Wealth Management experts, including Lisa Shalett, are sounding the alarm on the resilience of American consumers. While spending has grown steadily, theyre seeing signs of trouble, particularly for middle and lower-income households. This K-shaped economy, where some parts thrive while others struggle, is causing concern. David Kelly from JPMorgan Asset Management and Torsten Slok of Apollo Global Management echo these concerns, highlighting the wealth divide and increasing pressure on lower-income families. Experts are now monitoring credit stress, affordability crisis, and job market weakness, which could significantly impact overall spending and the economy next year.
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