Latest / Stagflation Conversations with Fexingo: High Inflation, Slow Growth, and 1970s Echoes
The Productivity Mirage in Modern Stagflation
With third-quarter GDP hitting 3.4 percent while core CPI holds at 338.9, the US economy is sending mixed signals that defy traditional stagflation models. Lucas and Luna unpack the 'productivity mirage'—why output per hour is rising even as wages stagnate and prices stick. We analyze the latest JOLTS data showing job openings falling to 7 million and why this specific divergence suggests a structural shift rather than a simple cyclical bounce. This deep dive into Q3 2026 economic indicators reveals how capital expenditure and labor hoarding are reshaping the inflation landscape for…
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