The Economy Slowed Down at the End of Last Year
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What caused the economy to slow down at the end of last year?
The economy slowed down at the end of last year. I'm Dave Anthony, Fox News, and a report just out this morning, Fox Business Network's Cheryl Cassoni details.
We came in at 1.4%. This is even below the range of expectations that we got for fourth quarter GDP.
That is down from 4.4% growth in the third quarter.
We had a 43-day government shutdown in this quarter. That is certainly going to be one of the issues here.
Now, ahead of the report, President Trump posted on Truth Social, blaming the government shutdown on Democrats, that it cost the U.S. at least two percentage points of GDP growth. He also again called for lower interest rates, writing Federal Reserve Chairman Jerome Powell is the worst. The day after the president touted a stronger economy and lower inflation at a rally in Georgia.
You notice, what word have you not heard over the last two weeks? Affordability. Because I've won. I've won affordability.
He also touted his tariffs. Democrats say, though, it's the American people paying the price for them. We got an inflation update about a half hour ago showing a slight increase in December month to month in what are called personal consumption expenditures. The annual inflation rate there went up a tenth of a percent to 2.9 percent. The president is giving Iran a deadline to make a nuclear deal.
How did the government shutdown impact GDP growth?
I would think that would be enough time, 10, 15 days, pretty much maximum. President Trump on Air Force One again warning Iran if they don't agree, it'll be unfortunate for them. The president also made news in a Truth Social post on UFOs.
Fox's Sean Langell. He's directing... Secretary of War Pete Hegseth and other relevant agencies to release files related to alien life, as well as unidentified aerial phenomena and unidentified flying objects. The president accused Obama of revealing classified information by suggesting aliens were real, but when asked aboard Air Force One if he's a believer... No, I don't have an opinion on it.
I never... America's listening to Fox News.
This is Ainsley Earhart. Thank you for joining me for the 52-episode podcast series, The Life of Jesus.
What are President Trump's views on interest rates and inflation?
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The former Prince Andrew is free this morning in Britain after being released by police about 11 hours after his high-profile arrest. But Andrew Mountbatten-Windsor is still facing public misconduct charges over his alleged involvement in the Jeffrey Epstein sex trafficking scheme. That accusation led his brother, King Charles, to strip Andrew of his prince title. title. And there's more Epstein news.
Jeffrey Epstein's estate is agreeing to settle a lawsuit brought against the late financier's two associates who serve as co-executors of the estate. The agreed upon number in the federal class action suit is $35 million. That lawsuit alleged the two men, one who served as Epstein's personal lawyer and another his accountant, were helping to facilitate Epstein's trafficking of women and girls. Neither of the men are criminally convicted, nor do they admit any wrongdoing. It's not the first time the disgraced Epstein's estate has settled claims. It previously paid $121 million to a restitution fund. In Miami, Eben Brown, Fox News.
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Both police and state regulators are looking into the possibility that criminal negligence was involved and whether the tour organizers are at fault. The 11 backcountry skiers and four guides were traveling along a route that reportedly was at greater risk than longer exit paths. The tour company, Blackbird Mountain Guides, says it's too soon to draw conclusions as investigations continue.
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