#k-shaped-economy

#k-shaped-economy

Days before President Donald Trump was sworn in for his second term, he acknowledged the high prices Americans were seeing at the gas pump and grocery store, pledging to bring them down. "It's always hard to bring down prices when somebody else has screwed something up like [President Joe Biden] did," Trump said in a news conference in early January. "We're going to have prices down. I think you're going to see some pretty drastic price reductions."

A decade ago, low-income workers saw wages grow at the highest rate of any Americans. Now, the opposite is true, and the gap is widening between how quickly wages increase for wealthy and poorer U.S. households. In a Monday blog post titled "K-shaped economy," Apollo chief economist Torsten Slok warned the growing disparity is yet another sign of today's economy continuing to serve the rich, while poor Americans continue to struggle.