WHIFF: Q2 GDP misses expectations at 6.5%. “Economists expected a growth rate of 8.4% in Q2, given that Biden and Congress spent $1.9 trillion of relief money beginning in March. Even the 6.5% growth rate looks a little worse once you get under the hood. Despite all of the cash that flowed into the economy, wages and disposable income dropped sharply, in part because the direct relief payments went out before the start of the quarter.”

And as a result of all that spending: Barbie maker Mattel says higher prices are coming just in time for Christmas.