Overview

• The U.S. economy contracted by 0.3% in Q1 2025, marking its first quarterly decline in three years, according to new data from the Bureau of Economic Analysis.
• Consumer confidence has fallen to levels last seen during the COVID-19 pandemic, reflecting growing concerns about economic instability.
• Vice President JD Vance, in a Fox News interview, attributed the economic challenges to deficits and trade imbalances inherited from the Biden administration.
• Vance defended the Trump administration's tariffs as a necessary 'reset' to promote domestic manufacturing, job growth, and economic self-reliance.
• Reports suggest internal preparations within the administration, such as stockpiling supplies, are underway to mitigate potential fallout from trade conflicts.