Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
How Factory Weakness Is Skewing the Fed's Next Move
In this episode, Lucas and Luna dig into a quiet but telling signal in the latest economic data: manufacturing is stumbling while services hold up. They trace how the July jobs report—where payrolls dipped slightly but unemployment fell to 4.1 percent—reflects that split, and why the Fed is paying more attention to factory output than headline growth. With real GDP growth sliding to 1.5 percent annualized, they ask whether the Fed's next move hinges on what's happening on factory floors rather than in consumer spending. They also sift through the conflicting signals: wholesale…
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