K-shaped economy is showing up at the gas pump: NY Fed

The Hill reports on New York Federal Reserve research showing a K-shaped consumption pattern at the gas pump, where low-income households are cutting gas purchases as prices spike while wealthy households maintain consumption levels. The article is sourced from the NY Fed's Liberty Street Economics blog and bylined to Andrew Dorn, indicating direct access to the original research, which strengthens credibility. Multiple major outlets (NYT, LAT, PBS, NewsNation) corroborate the core finding that lower-income Americans have reduced gas consumption while spending a larger share of their budgets on fuel, confirming the NY Fed's analysis is substantive and newsworthy. The reporting appears well-sourced but the article description lacks specificity on data points (exact percentage changes, timeline detail, or income thresholds) that would deepen reader understanding—watch for how policymakers respond to this widening economic disparity and whether subsequent data shows sustained divergence or convergence in consumption patterns across income groups.