America’s consumer economy is hostage to its top earners—and that could mean trouble down the road

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• America’s top earners—those making at least $250,000 per year—account for nearly 50% of all spending, according to a recent report from Moody’s Analytics. It’s the most influence the group has had in the over three decades of tracking the data, with some economists worried it could make the U.S. economy fragile.

The U.S. economy “appears to be losing some of its luster,” according to Moody’s Analytics. Retail sales and manufacturing production dropped while job growth was mediocre in January.