Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why Wage Growth Hasnt Boosted Consumer Spending as Expected
In this episode of The Macro Memo, Lucas and Luna unpack a puzzle at the heart of the current economy: average hourly earnings are up to $37.60, yet consumer spending is showing cracks. They explore a new Fed paper that suggests higher wages are being absorbed by debt service costs, with credit card balances rising and a World Cup boost for bars fading fast. The hosts drill into why the wage-spending link may be broken, what import price data from China reveals about margins, and whether the Fed's rate path accounts for a consumer that's becoming more cautious. A must-listen for…
The skinny
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