wealth inequality spending Americans economy.

Higher-income Americans and those with college degrees have ramped up their spending more quickly in the past three years than lower-income households and those without college diplomas, according to new data released Tuesday, evidence of worsening inequality amid overall growth that may explain some of the negative sentiment around the economy. The figures add support to the notion of a “K-shaped” economy, in which upper-income Americans are fueling a disproportionate share of the consumption that is the primary driver of the economy, while lower-income households see fewer gains.