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How the World Cup Distorted US Consumer Spending Data
In this episode of The Macro Memo, Lucas and Luna dig into a surprising detail from the Fed's latest Beige Book: the World Cup gave bars and restaurants a significant boost, even as broader consumer spending showed warning signs. They explore how a single mega-event can temporarily distort economic data, masking underlying trends like rising credit card usage and a shift toward services over goods. Using specific data points including the 0.3 percent drop in wholesale prices and the latest CPI figures, the hosts discuss what happens when the economic party ends and the bill comes due. A…
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