Summary List Placement
As the coronavirus pandemic disrupted life throughout 2020, economists debated the shape of the recovery from it. Would it be a V shape, a U shape, or even an L shape?
The answer that emerged was something different: A K shape, in which the well off recover like they’re in a V, and lower-income Americans never recover at all. President Joe Biden validated the diagnosis back in 2020, on stage during a presidential debate.
It stands to reason, therefore, that consumer confidence would follow the same K shape, but the results are nevertheless striking. details ⇒
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