'K-Shaped' Economy Takes Toll on Lower-Income Households, Says Bank of America
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Bank of America highlights the "K-shaped" U.S. economy, where lower-income households face higher inflation rates compared to middle- and higher-income groups. Key spending areas like housing, transportation, and food are significantly impacted. As the gap narrows, these households remain vulnerable to economic shocks, potentially reducing discretionary spending further. Bank of America warns of continued challenges for lower-income groups heading into 2026.
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