#k-shaped-recovery
#k-shaped-recovery
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#income-inequality #consumer-spending #ai-stock-rally #labor-market #economic-sentiment #fast-food-earnings
fromFortune
2 weeks agoIn the absence of jobs numbers, slop bowls and fast food can show a lot about the economy | Fortune
"We continue to see a bifurcated consumer base with [quick-service restaurant] traffic from lower-income consumers declining nearly double digits in the third quarter, a trend that's persisted for nearly two years," McDonald's CEO Chris Kempczinski said on the company's November 5 earnings call. "In contrast, QSR traffic growth among higher-income consumers remained strong, increasing nearly double digits in the quarter."
Food & drink
Business
fromFortune
2 months agoJerome Powell on signs of an AI bubble and an economy leaning too hard on the rich: 'Unusually large amounts of economic activity' | Fortune
AI-driven capital spending concentrates growth and benefits wealthy households and mega-cap firms, creating a K-shaped recovery and uneven economic composition.
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