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‘K-Shaped’ Economy Is Giving Way to an ‘E-Shaped’ Divide

NerdWallet·Anna Helhoski·25 days ago
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SOME CARD INFO MAY BE OUTDATED This page includes information about these cards, currently unavailable on NerdWallet. The information has been collected by NerdWallet and has not been provided or reviewed by the card issuer. The wealth gap in America is taking a new shape — and it’s no longer just a divide between the well-off and the financially vulnerable. In recent years, economists have described the economy as “K-shaped,” with higher-earning households continuing to spend and drive growth (the top of the “K”), while lower-income Americans pulled back (the bottom). Now that divide is shifting again. As inflation lingers, gas prices skyrocket, housing remains unaffordable for many and job security feels less certain, more Americans — especially those in the middle — are tightening up their finances.…

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