The wealthy ramp up spending while other Americans tread water, new study finds

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WASHINGTON (AP) — Higher-income Americans and those with college degrees have ramped up their spending more quickly in the past three years than other consumers, according to new data released Tuesday , evidence of worsening inequality that may explain some of the growing pessimism about the economy. The data, released by the Federal Reserve Bank of New York, also show that in the final three months of last year, lower-income and rural households faced higher inflation than higher-income

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