The richest 20% are the only ones powering the U.S. economy, says top economist, but their prospects are entirely reliant on teetering stock prices

The top 20% of U.S. earners drive 60% of personal outlays, with their spending growth (8.3%) outpacing the bottom 80% (4.5%), as wealth tied to stock market valuations raises concerns about economic fragility. Moody’s chief economist Mark Zandi notes this 'K-shaped economy' persists, with the wealthy benefiting from asset gains while most Americans struggle with affordability.