Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why Real Wages Are Finally Catching Up
With the unemployment rate holding at 4.10 percent and core CPI rising to 337.8 in August, the narrative that workers are losing ground is shifting. Lucas and Luna break down the mechanics of real wage growth, using average hourly earnings data to show how purchasing power is finally stabilizing after years of erosion. They examine why this metric matters more than headline inflation for household budgets and what it signals about consumer resilience heading into the final quarter of 2026.
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The skinny
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