Overview
- The Bureau of Economic Analysis reported U.S. GDP grew at a 3.4% annual rate in the third quarter, the fastest pace in a year.
- Official data show inflation accelerated to 3.6% in September and inflation‑adjusted disposable personal income fell 0.3% for the month.
- Average hourly earnings rose 3% over the past year while consumer prices rose 3.7%, leaving real hourly pay down about 0.7%.
- Nonpartisan analyses find the 2025 tax law and drug‑price measures raise aggregate income but distribute gains unevenly, with middle and upper incomes netting most benefits and lower‑income households losing ground when cuts to Medicaid and food aid are counted.
- Polls and consumer measures show widespread economic dissatisfaction, rising use of buy‑now‑pay‑later credit for basics, and a White House push to highlight growth that could shape voter perceptions in the midterms.