From Yahoo Finance: 2025-04-30 10:22:00

The US economy contracted for the first time in three years during the first quarter of 2025, with a surge in imports dragging down GDP and prices increasing more than expected. Inflation, as measured by the “core” Personal Consumption Expenditures index, grew by 3.5%, higher than estimates and the previous quarter. Federal Reserve Chair Jerome Powell highlighted the challenging scenario ahead, where the Fed may have to balance stable inflation and high employment. President Trump continues to pressure Powell to lower rates, despite the Fed not expected to make any changes at its upcoming meeting. Private payrolls grew by just 62,000 in April, indicating a slowdown in hiring amidst concerns about tariffs impacting economic growth.



Read more at Yahoo Finance: Shrinking GDP and elevated inflation put Fed in tough spot