The updated forecast projects that real GDP growth will slow to 1.4% in 2025, down from 2.5% in 2024 and below the 1.9% previously forecast in January.
New numbers from the Department of Labor show that there were less Americans filing for unemployment benefits last week, signaling a healthy labor market.
"I'm interpreting the results tonight as the revenge of the regular, old working-class American, the anonymous American who has been crushed, insulted, condescended to. They're not garbage. They're not Nazis."