Evaluate string as Jinja code in macro

Is there a way to evaluate a string to actual Jinja “code”?

Basically I want to be able to build a macro that allows passing in a string that is then evaluated in the current context.

{% macro run_query_as_code(my_query) %}
  {% set results = run_query('select 123 as column_name') %}
  {% for r in results.rows %}
    {# Here I need my_query to be evaluated to jinja, not sure of the correct filter or function? #}
    {{ my_query }}
  {% endfor %}
{% endmacro %}

{{ run_query_as_code('hello {{ r["COLUMN_NAME"] }} ') }}

So ideally calling run_query_as_code('hello {{ r["foo"] }} ') would return:
hello 123