“The top two-fifths of the income distribution account for about 60 percent of spending in the economy, the bottom two-fifths about 22 percent”
Surely that is what one would normally expect? Top 40% income account for 60% of spending. Seems unlikely that it would be 40%.
And of course there are more nuances than just poor and rich.
If low interest rates benefit the rich and high interest rates hurt the poor, what’s left?
Perhaps this is not anything that the Fed can solve.