00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Federal Reserve Bank of New York linked the K-shaped economy to a rise in food insecurity
00:07in a blog post published Wednesday, according to CNBC. The report draws on data from the
00:13Survey of Consumer Expectations. It found that lower- and middle-income households have been
00:18hardest hit by prolonged inflation, with a greater share of their spending going toward housing,
00:23food, and utilities. Cuts to the Supplemental Nutrition Assistance Program, combined with a
00:28higher cost of living, have deepened hardship for those at the bottom of the K-shape.
00:33Trump's big, beautiful bill tightened snap work requirements. Nearly 14% of American households
00:40were food insecure in 2024, according to the USDA. About one-third of households expect to be worse
00:46off financially in one year. For all things money, visit Benzinga.com.
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