Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why US GDP Growth Is Hiding A Weakness Trap
Third-quarter U.S. GDP surprised to the upside at an annualized 3.4 percent growth rate, yet core inflation and wage data tell a different story. Lucas and Luna dissect the divergence between nominal headline strength and underlying economic fragility. With the Federal Reserve Funds rate holding near 3.75 percent and job openings falling, we explore how fiscal deficits and sticky service prices are masking a structural slowdown. This episode examines whether today's growth numbers reflect genuine productivity or simply unsustainable demand in a high-interest-rate environment.
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The skinny
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