On Day 36, government shutdown is longest in U.S. history
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It’s unclear when the government will publish the third quarter GDP report, but the latest numbers still suggest that moderate growth prevailed. Read more here.
The large services side of the U.S. economy grew in October at the fastest pace in eight months with the help of lower interest rates, but businesses expressed lingering worries over high tariffs and said the government shutdown could also cause pain if it drags on.
Morgan Stanley's Mike Wilson was a lonely voice on Wall Street calling a "rolling recession" when others saw a boom. Now he sees a "rolling recovery."
The richest 10% of households are fueling nearly half of total U.S. spending, thanks to a stock market surge that has boosted wealth and propelled economic output this year.
About half of Americans view the large U.S. trade deficit with other countries as an economic emergency, according to a poll released on Tuesday, a day before the Supreme Court is due to consider the legality of sweeping tariffs imposed by President Donald Trump under a law meant for emergencies.
So, some Federal Reserve branches model GDP. The Atlanta Fed estimates the economy grew at a healthy annual rate of 3.9% last quarter; New York has a more modest 2.4%. And the St. Louis Fed: just 0.6%.
Inflation is lower than expected after President Trump’s steep levies.
There’s no official read on how fast the US economy grew last quarter, thanks to the government shutdown. But almost everyone reckons it was a healthy pace — and that’s largely thanks to AI.
Exclusive: A paper by the Center for Freedom and Prosperity argues there are are strong economic benefits for the United States if peace can be achieved
Many Democrats welcome the idea of ushering in fresh candidates but say it's not the only answer to winning back voters. The majority of Democrats interviewed for this piece agreed that earning back the trust of the voters following the tumultuous 2024 campaign was the first step to winning at a national level.
The shape of economic growth this year highlights the widening gap between wealthy Americans and everyone else, economists say.