A study finds escaping your income bracket no longer means building wealth. That disconnect may be what’s driving consumer pessimism to record highs
A new study from the National Bureau of Economic Research reveals a widening gap between income and wealth accumulation in the United States. Researchers found that even with high earnings, individuals from less affluent families struggle to achieve homeownership and build wealth, unlike their peers from wealthier backgrounds who receive significant parental assistance. This disconnect between hard work and financial success is contributing to record-high levels of consumer pessimism, as Americans feel the economy is not on the right track despite market highs. AI
