Unhedged

A massive GDP number

In the third quarter, the US economy, as measured by annualised GDP, grew 4.9%. In an environment of skyrocketing interest rates, that is an extraordinary number. And it’s being powered by an extraordinary force: the American consumer. Today on the show we try to understand why they have remained so resilient, and if there’s room for more growth. Also, we go long Morgan Stanley and short the avians of the Antarctic.  For a free 30-day trial to the Unhedged newsletter go to: <a href="https://www.ft.com/unhedgedoffer" rel="noopener noreferrer" target="_blank">https://www.ft.com/unhedgedoffer</a> Follow Ethan Wu (<a href="https://twitter.com/ethanywu" rel="noopener noreferrer" target="_blank">@ethanywu</a>) and Katie Martin (<a href="https://twitter.com/katie_martin_fx" rel="noopener noreferrer" target="_blank">@katie_martin_fx</a>) on X, formerly Twitter. You can email Ethan at <a href="mailto:ethan.wu@ft.com" rel="noopener noreferrer" target="_blank">ethan.wu@ft.com</a>. <a href="https://www.ft.com/content/c1121faf-0a40-4ccd-802c-5c1e9c9d827a" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.

Katie Martin, Robert Armstrong and other markets nerds at the Financial Times explain the big ideas behind what’s happening in finance right now. Every Tuesday and Thursday. Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.