U.S. GDP shrunk unexpectedly in the first quarter of 2022, a major red flag for Joe Biden’s economy.

The Details: The decline, 1.4 percent annualized, came ass a shock to most economists who had actually predicted the economy would grow in the first quarter of the year.


Advertisement

The drop apparently stemmed from a surging U.S. trade deficit.

The news is reportedly unlikely to change the Federal Reserves’ decision to raise interest rates during its upcoming May meeting.

Follow us on Twitter and Facebook!

(Visited 540 times, 1 visits today)