Are measures like GDP an accurate way to measure the success and growth of a country? David Pilling, Africa Editor at The Financial Times and author of, "The Growth Delusion," says GDP is outdated and has not been updated since the technological revolution.
Pilling joins Cheddar to explain that GDP was initially invented during the manufacturing age and no longer accurately measures production and progress in the technological age. Pilling does not advocate for a full removal of GDP, but he does believe that leaders rely too heavily on it.
Pilling argues that we need to find a better way to measure tech contributions.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
The U.S. economy added 272,000 jobs in May, far more than expected. But that number doesn't tell the whole story. Interest rate cuts could still be on the way.
