Fast Company: Are we in a K-shaped economy? Delayed employment numbers could reveal recession odds
Peter Ricchiuti, senior professor of practice in finance and research director of Burkenroad Reports, was interviewed by Fast Company about the impact of Fed interest rate cuts on an already bifurcated economy.
“This action really benefits the upper class as it makes the value of their investments rise (stocks, bonds and real estate),” Ricchiuti explains. “More often than not, the wealthy are better off than when the downturn began. Meanwhile, the middle class is hurt even more. If they have any savings, at all, it’s invested in money market funds and bank CDs. These now offer lower returns because interest rates on those instruments have been lowered.”
To read the article in its entirety, visit fastcompany.com:
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