Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why GDP Growth Quietly Outpaced the Headlines
The economy grew at 2.1 percent annualised in the first quarter of 2026, up from 0.5 percent at the end of last year — yet most of the conversation has been about the soft jobs market and the Fed stuck at 3.63 percent. Lucas and Luna dig into the real GDP number, what drove the rebound, and whether consumers or businesses deserve the credit. They look at the composition of growth: personal consumption held up, but the bigger swing came from inventory restocking and a narrower trade deficit. The hosts also connect this to the 10-year Treasury yield hitting 4.57 percent and what that says about…
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