The Bureau of Economic Analysis (BEA) released their third estimate for the first quarter of 2025 real GDP which declined at an annual rate of 0.5%. Private fixed investment was strong but was outweighed by the negative impact of imports in anticipation of higher domestic tariffs. The price index for gross domestic purchases increased by 3.4%. READ MORE
One Big Beautiful Bill?
H.R. 1 of the 119th Congress passed in the U.S. House of Representatives and is now before the Senate. READ MORE
Economic and Tariff Update
The Bureau of Economic Analysis (BEA) released a preliminary estimate for real GPD during the first calendar quarter of -0.3% (annualized). The decline in GDP was primarily due to an increase in imports as companies accelerated orders in advance of tariffs. READ MORE
Tariffs Incoming
The Trump Administration plans to increase tariffs on imported goods are going into effect. Tariffs of 25% on Canada and Mexico and 20% on China went into effect on March 4. The increased tariffs for Mexico were then delayed until April 2. READ MORE
Atlanta Fed’s GDPNow, DOGE, and Secretary of Treasury Bessent
The Federal Reserve Bank of Atlanta maintains a short-term economic model that they call GDPNow. The Atlanta Fed describes it as a “running estimate of real GDP growth based on available economic data for the current measured quarter.” During the last week, the estimate…. READ MORE