Steve Van Metre, an economic expert, and Goolsbee, a Bloomberg Fed adviser, dive deep into troubling revisions in U.S. economic data. They reveal how constant downward revisions hint that the economy might be overstated. Discussing consumer behavior, they note affluent shoppers are now turning to budget retailers. The pair also worry over stagnation in retail sales, questioning if current growth is merely debt-driven. As unemployment claims rise, the narrative of a soft landing is challenged, leaving listeners alarmed about the future of economic stability.
