U.S. 1Q GDP Seems to Be Stronger Than Thought, Economist Rupkey Says

The video discusses the stronger-than-expected GDP growth, highlighting the role of retail sales and the FOMC's outlook. It examines the housing market's weak performance despite low interest rates, attributing it to the lack of affordable homes. The transcript also delves into economic uncertainties, using the 'letter Z' as a metaphor for unknown variables. It touches on the impact of technology on employment and the potential long-term effects. Finally, it addresses rising oil prices and their implications for consumers and company margins.

What was the initial expectation for the first quarter GDP growth before it was revised to 2.2%?

• 0.8%

• 2.0%

• 1.5%

• 0.5%

What is the main mystery in the housing market according to the discussion?

• High interest rates

• Lack of affordable homes

• Excessive housing starts

• Overvaluation of properties

What role does the Fed play in preventing a recession according to the transcript?

• Increasing interest rates

• Reducing unemployment claims

• Encouraging layoffs

• Scaling back production

How might US sanctions on Iran affect the economy?

• By decreasing oil prices

• By stabilizing oil prices

• By having no effect on oil prices

• By increasing oil prices

What is the lesson learned from a decade ago regarding consumer adaptation?

• Consumers are unaffected by economic changes

• Consumers prefer lower interest rates

• Consumers can adapt to higher interest rates and gasoline prices

• Consumers cannot adapt to higher prices