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GDP Explained: What It Really Tells Us About the Economy

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Synopsis

tuart McMillan talks to Mike Kaiman, Senior Economic Education Specialist at the Federal Reserve Bank of St. Louis, for a deep dive into Gross Domestic Product (GDP)—what it is, how it's measured, and why it matters. From the difference between real and nominal GDP to the role of the Bureau of Economic Analysis (BEA), Mike breaks it all down in clear, relatable terms. The conversation also introduces FRED, a powerful free resource for exploring economic data. If you've ever wondered how GDP reflects the health of our economy or how to use that knowledge to stay informed, this episode is for you.