Forbes Daily: The Economic Divide Between Baby Boomers And Gen Z
Today’s K-shaped economy isn’t just divided by income. It’s also by age.
Ed Yardeni, president and chief investment strategist at Yardeni Research, calls it the “gen-shaped economy”—Baby Boomers have accumulated nearly half of all U.S. household wealth, as they benefit from rising home values and stocks. Meanwhile, younger adults are struggling to find work in a difficult job market, they’re more likely to be burdened by student loans, and may be unable to save up for a home. The median age of first-time homebuyers hit a record of 40 last year.
For many in Gen Z, it means leaning on their parents for help—almost half of Americans ages 18 to 29 received financial help from someone outside their household last year.
This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here.
Ahead of Chinese President Xi Jinping’s state visit to the U.S. later this week, Treasury Secretary Scott Bessent discussed AI safety and trade with Chinese authorities on Sunday.
Negotiations in the merger of Paramount and Warner Bros. Discovery reportedly advanced over the weekend, and both entertainment firms saw stock bumps in premarket trading Monday.
President Donald Trump said Friday he would ban journalists from CNN, MS NOW and Politico from the White House for reporting supposed “FAKE NEWS,” though it is likely to be fought in court.
As diesel prices approached $6 per gallon across the U.S. on Friday, Patrick De Haan, GasBuddy’s head of petroleum analysis, warned that grocery prices will increase. The U.S. national average for diesel........
