Elizabeth Ayoola

So the primary cause of this negative number is the effect of a rush to import goods ahead of tariffs. Household and government spending, business investments and exports, all of those are added together in GDP, but imports aren't produced here, so they aren't counted in the same way.

If enough goods are imported but not counted as inventory on store shelves or consumed in the same time period, it can result in a negative number, and that's likely what happened with the first quarter number. So while the GDP reflected a contraction, it wasn't really a broad-based decline in economic activity, rather the big effect of this one big number.

If enough goods are imported but not counted as inventory on store shelves or consumed in the same time period, it can result in a negative number, and that's likely what happened with the first quarter number. So while the GDP reflected a contraction, it wasn't really a broad-based decline in economic activity, rather the big effect of this one big number.

If enough goods are imported but not counted as inventory on store shelves or consumed in the same time period, it can result in a negative number, and that's likely what happened with the first quarter number. So while the GDP reflected a contraction, it wasn't really a broad-based decline in economic activity, rather the big effect of this one big number.

Well, coming into this year, I think it's safe to say the labor market was really coming into balance, if not fully balanced or normalized. And this is relative to where it was a few years ago. Back then, workers really had the upper hand as labor demand or employers seeking workers outpaced supply or workers themselves. And while this was really great for workers, it helped drive high inflation.

Well, coming into this year, I think it's safe to say the labor market was really coming into balance, if not fully balanced or normalized. And this is relative to where it was a few years ago. Back then, workers really had the upper hand as labor demand or employers seeking workers outpaced supply or workers themselves. And while this was really great for workers, it helped drive high inflation.

Well, coming into this year, I think it's safe to say the labor market was really coming into balance, if not fully balanced or normalized. And this is relative to where it was a few years ago. Back then, workers really had the upper hand as labor demand or employers seeking workers outpaced supply or workers themselves. And while this was really great for workers, it helped drive high inflation.

So the Fed raising rates, among other things, has helped bring that labor supply and demand into better balance. You know, that feels less great to workers, but it's far more sustainable. Right now, I think the labor market is at a potential precipice, though. So normalization has looked like lower hiring rates, fewer job openings, and slightly higher but still okay unemployment rate.

So the Fed raising rates, among other things, has helped bring that labor supply and demand into better balance. You know, that feels less great to workers, but it's far more sustainable. Right now, I think the labor market is at a potential precipice, though. So normalization has looked like lower hiring rates, fewer job openings, and slightly higher but still okay unemployment rate.

So the Fed raising rates, among other things, has helped bring that labor supply and demand into better balance. You know, that feels less great to workers, but it's far more sustainable. Right now, I think the labor market is at a potential precipice, though. So normalization has looked like lower hiring rates, fewer job openings, and slightly higher but still okay unemployment rate.

Unfortunately, the current pressures on the economy and the labor force could tip these things from where they are now, which is stable, into a trouble zone. So I think the labor market is healthy, but there are increasing risks to that health.

Unfortunately, the current pressures on the economy and the labor force could tip these things from where they are now, which is stable, into a trouble zone. So I think the labor market is healthy, but there are increasing risks to that health.

Unfortunately, the current pressures on the economy and the labor force could tip these things from where they are now, which is stable, into a trouble zone. So I think the labor market is healthy, but there are increasing risks to that health.

Well, yes, inflation continues to slow as of March, which was the latest data we received. Then headline inflation or overall inflation was 2.3 percent, which is down from 2.7 percent in February and down from over 7 percent in 2022 before the Fed began raising interest rates. And I want to reiterate that this percentage we use to discuss the PCE index is a measure of price growth.

Well, yes, inflation continues to slow as of March, which was the latest data we received. Then headline inflation or overall inflation was 2.3 percent, which is down from 2.7 percent in February and down from over 7 percent in 2022 before the Fed began raising interest rates. And I want to reiterate that this percentage we use to discuss the PCE index is a measure of price growth.

Well, yes, inflation continues to slow as of March, which was the latest data we received. Then headline inflation or overall inflation was 2.3 percent, which is down from 2.7 percent in February and down from over 7 percent in 2022 before the Fed began raising interest rates. And I want to reiterate that this percentage we use to discuss the PCE index is a measure of price growth.

So when we say it's decreasing, it means that prices are growing more slowly, not that price levels are coming down. But overall, inflation is at a much better place now than it was a few years ago. And it's really within spitting distance of the Fed's 2% target. The big question now is whether it will hit that target, and I think not.

So when we say it's decreasing, it means that prices are growing more slowly, not that price levels are coming down. But overall, inflation is at a much better place now than it was a few years ago. And it's really within spitting distance of the Fed's 2% target. The big question now is whether it will hit that target, and I think not.

So when we say it's decreasing, it means that prices are growing more slowly, not that price levels are coming down. But overall, inflation is at a much better place now than it was a few years ago. And it's really within spitting distance of the Fed's 2% target. The big question now is whether it will hit that target, and I think not.

Going back to what we were discussing earlier, this data is on a lag. So the 2.3% is the March growth rate, and the biggest tariff announcements were saved for April.