Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why the July Jobs Report Signals a Fed Shift
In this episode of The Macro Memo, Lucas and Luna dig into the July jobs report and why it's the Fed's toughest puzzle yet. Unemployment fell to 4.1 percent while payrolls shrank by 23,000 — a split that has the Fed on hold. They unpack what the household survey is telling us, why job openings have dropped to 7.36 million, and how the Fed's focus on the labor market, not inflation, is shaping the next move. Plus, they look at the bond market's signal: the 10-year Treasury yield at 4.70 percent and what it says about growth expectations. If you've been wondering…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.