Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
The Jobs Report That Has Everything and Nothing
Lucas and Luna dissect the April 2026 jobs report, which showed payrolls jumping more than expected but also contained several red flags for the economy. With the unemployment rate stuck at 4.3%, consumer sentiment at a record low, and the Fed holding rates steady, Lucas argues that this is the kind of data that paralyzes central bankers rather than guiding them. Luna pushes back on whether the labor market is actually as strong as the headline suggests, pointing to falling job openings and rising initial claims. Together they explore what the 'Goldilocks' jobs report really means…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.