First quarter U.S. GDP growth came in at a very weak annualized rate of 0.1 percent, the slowest since the fourth quarter of 2012, and considerably down from the relatively decent rate of 2.6 percent seen in the fourth quarter last year.
Surveys of economists by Bloomberg were anticipating growth around 1.1 percent — slow, because of the unseasonably bad weather, but not this slow.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Expectations remain that the Federal Reserve will announce an additional reduction to its quantitative easing program of $10 billion tomorrow — lowering its monthly purchases to $45 billion — but weaker than expected growth figures, still-high unemployment, and below-target inflation may force the Fed to take a wait-and-see attitude to further tapering.
-
August 23 editorial cartoonsCartoons Saturday's political cartoons include deficit dimness, steamroller-in-chief, and more
-
5 museum-grade cartoons about Trump's Smithsonian purgeCartoons Artists take on institutional rebranding, exhibit interpretation, and more
-
Settling the West Bank: a death knell for a Palestine state?In the Spotlight The reality on the ground is that the annexation of the West Bank is all but a done deal
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
