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In a sign of potential danger, inflation climbed at its fastest rate in four years in March as fuel costs rose, driven by global oil and gas shortages.
President Donald Trump applauds to supporters after speaking at a campaign rally at Green Bay Austin Straubel International Airport on Oct. 30, 2020, in Green Bay, Wisconsin. | Alex Brandon/AP
President Donald Trump’s economy is still growing, but as Americans bristle at rising gas prices, Republicans are staring at a potential slowdown less than six months before a midterm election that will hinge on the economic outlook.
The Commerce Department on Thursday said gross domestic product expanded at a 2 percent rate during the first quarter of 2026. The preliminary estimate was an improvement from the weak growth of late last year but fell short of economists’ forecasts.
