Fox News contributor Liz Peek joined Fox Business’s “Mornings with Maria” as Maria Bartiromo asked the panel about a Bank of America Institute report suggesting the so-called K-shaped economy is becoming less K-shaped, with lower-income Americans seeing their wages rise faster than middle- and upper-income earners.
“I want you to know the inflation discretionary for them is killing them,” Peek said of lower-income earners. “Go to the airport, Dallas airport, $20 hamburger. Go to JetBlue, nothing less than $15.”
Peek argued that income increases shouldn’t be compared in isolation. “We should compare what is left in their pocket after expenditure,” she said. “And that’s hurting the lower level people.” She added that young Americans are concerned about this — and that it’s why polling shows them pessimistic about AI, which they fear will take their jobs.
Asked whether the pattern is idiosyncratic to booming Dallas, Peek said the pain is broader, and warned that AI-driven automation will hit clerical and customer-contact roles first. “The people who are going to suffer are about 20 to 30 million,” she said. “They are at the lower level where they’re doing clerical jobs, jobs that contact the customer.” She said city mayors and state governments “have to first take care of these 20, 30 million people” — and urged a segment-by-segment focus over the next two years.
Source: Mornings with Maria
