1 outlet

The spike in gas prices is worsening the K-shaped economy

A new report from the Federal Reserve Bank of New York showed what higher prices at the gas pump mean for the K-shaped economy and low-income earners.

First seen · 3:35 PM UTCMay 7, 2026

How it's being covered

Methodology →

LeftCenterRight

0Left · 0%1Center-Left · 100%0Center · 0%0Center-Right · 0%0Right · 0%

Covering this story

Sorted left → right

Business Insider
Center-LeftAxel Springer SE
The spike in gas prices is worsening the K-shaped economyA new report from the Federal Reserve Bank of New York showed what higher prices at the gas pump mean for the K-shaped economy and low-income earners.
3:35 PM UTC

Also happening today

All today →

Public holiday

Defender of the Fatherland Day

Defender of the Fatherland Day is observed in Kazakhstan (Отан Қорғаушы күні). Recognized nationally.

Open →

Public holiday

Soldiers' Day

Soldiers' Day is observed in El Salvador (Día del Soldado). Recognized nationally.

Open →

Also on this date in history

All →

2025

The Indian Army and the Indian Air Force conduct surgical strikes code-named Operation SINDOOR on terrorist hideouts in Pakistan in response to the Pahalgam Attack that killed 26 people.

Milestone

2023

Tanur boat disaster: At least 22 people are killed when a boat carrying tourists capsizes in Tanur, Malappuram, Kerala, India.

Disaster

2004

American businessman Nick Berg is beheaded by Islamist militants. The act is recorded on videotape and released on the Internet.

Milestone