EXCLUSIVE — Top Trump administration officials are pointing to a capital expenditures “comeback” as evidence of the efficacy of President Donald Trump’s agenda, even as forecasters maintain concerns about how his tariff policies will particularly affect future economic growth.
Despite significant stock market gains and billions of dollars in committed investments from both U.S. and foreign manufacturers, gross domestic product shrank in the first quarter of this year by .3%, marking the first quarter of negative economic growth since 2022.
“This is Biden,” Trump said during an April Cabinet meeting when asked about the Q1 numbers. “And you could even say the next quarter is sort of Biden because it doesn’t just happen on a daily or an hourly basis.”
The Federal Reserve is slated to publish
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