We all see and hear those complaints about inflation and economic woes. Here is a contrary analysis, from The Wall Street Journal, no less:
Growing investment income and household wealth have joined near-full employment and rising wages to keep millions of Americans… spending their way through price hikes. The economy’s charge through higher interest rates is putting unprecedented sums into consumers’ pockets, pushing U.S. asset values to records and helping many high earners avoid the withering effects of inflation…. Federal data suggest Americans’ wage and wealth growth in recent years spanned every income bracket. In sheer dollar terms, white people, the rich, the college-educated and baby boomers have bagged disproportionate wealth gain such as homes–often locked in with low-rate mortgages–and stocks.