Bank of America Institute said the post-pandemic K-shaped economy is starting to narrow, with lower-income U.S. consumers holding up better than expected.
Liz Everett Krisberg told CNBC that resilience is showing even as inflation and gasoline prices rise, easing a divide that had favored higher-income households.
The shift suggests consumer spending pressure is not falling as sharply at the lower end of the income spectrum, a key signal for the broader U.S. economy.