A wealth boom and a price shock are colliding ahead of the midterm elections

The United States is in the middle of a historic and costly technological revolution, with the artificial intelligence buildout driving a level of investment set to eclipse the previous telecommunications boom, as well as national projects like the construction ​of rail and highway networks.

The transformation has spurred immense stock market gains that have boosted household wealth across the economy, which arguably has helped to keep consumer spending on track. ‌But with investment gains concentrated among the already rich, some Americans are benefiting more than others.

And what’s been dubbed a crisis of affordability can still be seen in the rising cost of home ownership or the price of ground beef — a meaningful pinch for the great majority of households that derive most of their income from earnings rather than investments.

Ninety-nine percent of U.S. households have cause to wonder what the AI market frenzy means for them. The rapid stock market ​gains in recent years have been fastest for the top 1%: Between the end of former President Joe Biden’s administration and the second quarter of 2026, midway through Donald Trump’s final term, only ​the top 1% gained a bigger slice of the national wealth pie, according to…

Original source: https://www.nbcnews.com/business