Latest News Updates From Paul Wiseman

The IMF expects the U.S. economy — the world's largest — to grow a solid 2.3% this year, up from 2.1% in 2025 and unchanged from the April forecast. 

The growth in GDP marked a rebound from a sluggish 0.5% in the last three months of 2025 when a 43-day federal government shutdown weighed on the economy.

The Labor Department reported June 11 that its producer price index — which captures inflation before it reaches consumers — jumped 6.5% from May 2025. 

The Labor Department reported June 5 that job growth was down last month from a revised 179,000 in April. The unemployment rate stayed at a low 4.3%

Energy prices climbed 7.8% from March to April and 22.7% from a year earlier. Gasoline soared 15.6% from March and diesel jumped 12.6%.

Heather Long, chief economist at Navy Federal Credit Union, wrote, “For the first time in three years, inflation is eating up all wage gains."

The Iran war has caused the biggest disruption of global oil supplies in history. But the conflict hasn’t done much damage to the American job market so far.

Growth in consumer spending, which accounts for 70% of U.S. economic activity, slowed to 1.6% in the first quarter from 1.9% at the end of 2025.

The Office of the U.S. Trade Representative will begin hearings in two investigations that are expected to lead to a new round of U.S. tariffs.

The IMF downgraded its forecast for global growth to 3.1% in 2026 from the 3.3% it had forecast back in January.