Overview

• The U.S. economy contracted by 0.3% in the first quarter of 2025, marking a significant shift from the 2.4% GDP growth in the previous quarter under President Biden.
• The Dow Jones Industrial Average has dropped nearly 7% since Trump took office in January, the worst start to a presidency since 1973, with the S&P 500 down 8%.
• Consumer confidence has fallen by 7.9 points to 86, approaching recession-warning levels, according to the Conference Board's latest report.
• Trump attributes the economic challenges to policies from Biden’s administration, dismissing the impact of his own tariff strategy, which has caused market volatility and global retaliation.
• Under Biden, the U.S. experienced a 12.6% GDP growth, contrasting sharply with the current economic downturn under Trump’s leadership.