The K-Shaped Recovery is Under Way

  • The economic recovery unfolding in the US is neither U-shaped nor V-shaped … it’s best expressed as a “K-shaped recovery,” with two Americas diverging
  • For wealthy Americans who are in the top income quartile, and who own significant financial assets, the recession is effectively over: incomes, employment, and (yes) even their kids’ math homework are better than ever
  • Poorer Americans who are in the bottom income quartile, and who are living in the Northeast, west coast, or in some of our large cities

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