What the New GDP Report Actually Says | Diving In

GDP grew 3.4% last quarter — so why does inflation still hurt? Justin Wolfers untangles it.

The last big data dump before the 2026 midterms just landed, and it's a tangle: GDP grew at a 3.4% annualized rate last quarter — faster than forecasters expected — while the Fed's preferred inflation gauge is still running hot. In this Diving In episode, Justin Wolfers walks you through why both political parties can grab accurate numbers and tell you completely opposite stories.

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