Bank of America Institute
Coverage of Bank of America Institute in the Nexus archive.
- Gen Z’s anti-capitalist brand says one thing. Its spending data says something more interesting
Gen Z's anti-capitalist image contrasts with spending data showing they prioritize affordable, reliable purchases over expensive experiences, a trend termed the 'little treat economy.' Their median savings-to-spending ratio is below 0.5, the lowest generationally, and they exhibit minimal K-shaped spending divides across income levels.
- LIZ PEEK: The Trump economy is doing better than the media want to admit
The article highlights economic indicators such as low unemployment, rising real wages, and a high stock market under President Trump, contrasting with higher average inflation under President Biden. It cites data showing income growth for the lowest 25% of earners and narrowing wage gaps, attributing these trends to Trump's policies. Critics argue media negativity and Republican messaging failures contribute to public pessimism about the economy.
- One in three Gen Zers is letting AI do their homebuying homework, but they still trust realtors with the closing process
A third of Gen Zers used AI for homebuying research in the past year, according to a Bank of America Institute study. While they rely on AI for process research and property analysis, most still prefer human realtors for legal and contractual aspects of closing. AI-driven real estate platform Jitty, which caters to Gen Z and young millennials, has seen rapid growth as users seek personalized digital experiences similar to TikTok and Spotify.
- You can't afford to have FOMO this summer
The article discusses the K-shaped economy's impact on summer travel, where high earners enjoy luxury trips while others cut back. It advocates for 'satisficing'—accepting local, affordable options—to reduce FOMO and improve mental health and financial well-being.
- Struggling To Buy Pet Food? Lincoln Square Pet Pantry Now Open 4 Days A Week
The Friendship Center in Lincoln Square expanded its pet pantry program to four days a week to address rising demand caused by increasing living costs. The pantry, which began in 2013 under volunteer Dara Salk, now serves more pets and people facing financial hardship, with increased distributions of pet food and supplies.
- Small business profits sink as gasoline prices soar
Small business profits have declined due to rising labor costs and energy prices, with a 1.3% drop in April, while Americans are starting businesses at a record pace. The decline is attributed to the Iran war, which has caused gas prices to spike. Despite this, entrepreneurialism remains strong in the US.