Wealthy Driving US Economy, But Risks Loom

Americas economy hinges on its wealthiest citizens for consumer spending, with the top ten percent now accounting for half of all spending. This trend, amidst a declining consumer confidence for lower and middle-income households, is exacerbating economic disparities. The affluent, benefiting from rising stock prices and home values, are expected to drive holiday sales. However, a potential downturn in their spending could significantly impact the economy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.