If you’re feeling a little uneasy about the future, you’re not alone. The U.S. economy just hit an unexpected speed bump, shrinking 0.3% in the first quarter—its first contraction since early 2022. The main culprit? President Trump’s heavy tariffs hit.
Businesses scrambled to stock up imports ahead of the hikes, causing GDP to drop the most ever. Adding to recession worries, consumer spending slowed to its weakest pace in two years. Economists warn things might get worse before they get better—so, get ready for a bumpy ride over the next few months.
Bonus: Worried about your money these days? I’ve got some friendly financial advice for you.
