# EP 164: The K-Shaped Economy—Who’s Pulling the Wagon?

Page: https://stenobird.com/podcast/the-lumber-word-6578824/ep-164-the-k-shaped-economy-who-s-pulling-the-wagon
Text version: https://stenobird.com/podcast/the-lumber-word-6578824/ep-164-the-k-shaped-economy-who-s-pulling-the-wagon.md
Podcast: [The Lumber Word](https://stenobird.com/podcast/the-lumber-word-6578824)
Published: 2026-04-09T10:44:48+00:00
Episode link: https://thelumberword.podbean.com/e/ep-164-the-k-shaped-economy%e2%80%94who-s-pulling-the-wagon/
Audio file: https://mcdn.podbean.com/mf/web/jatfda3ytekkyxkz/APRIL_86phwh.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-lumber-word-6578824/episodes/ep-164-the-k-shaped-economy-who-s-pulling-the-wagon
Duration seconds: 3457

## Resource

Ashley, Gregg, Matt, and Charles are joined by Brian Wesbury, Chief Economist at First Trust Advisors, a bestselling author, and one of the most sought-after voices in macroeconomics today. When markets get noisy, Brian’s the guy cutting through it with data and conviction. The crew dives into the macro forces shaping lumber—from government spending and the “K-shaped” economy to housing completions, freight spikes, and regional demand shifts. They break down why affordability is still broken, what’s driving trucking chaos, and whether strong Southern demand can carry the market forward. Plus—how AI, migration trends, and policy decisions could reshape housing, labor, and the broader economy. If you want to understand where lumber demand is heading (and why), this one delivers. Timeline 00:00 – Brian Wesbury joins + macro setup 03:30 – Taxes, migration & policy shifts 08:30 – Government spending vs affordability 14:00 – Housing completions & demand outlook 16:00 – Freight spikes & supply chain issues 18:30 – Southern vs Northern demand 24:00 – The “K-shaped” economy explained 30:00 – Growth, incentives & middle class 41:00 – AI, jobs & future risks Guest Brian S. Wesbury Chief Economist / First Trust www.ftportfolios.com Advertiser Fastmarkets RISI Dustin Jalbert Senior Economist Wood Products djalbert@fastmarkets.com www.fastmarkets.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

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## Transcript

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