Transportation Economy News Updates

Congress returns to Capitol Hill on June 1 after the Memorial Day recess to re-engage in midterm election politics driven by partisan affordability messages.

U.N. economists said global GDP growth is now forecast at 2.5% for 2026, down from 2.7% in January, and it could fall to only 2.1% “in a more adverse scenario.”

The carrier’s post-market announcement April 16 is intended to reset expectations ahead of the release of earnings for the first quarter on April 22.

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

Diesel prices are climbing, ocean vessels are rerouting and U.S. trucking rates are responding as war in Iran ripples through energy and freight markets.

For the U.S., the OECD expects inflation to jump to 4.2% this year, from 2.6% last year. Its price outlook is 1.2 percentage points higher than in December.

Wall Street is cutting its forecasts for the U.S. economy this year, boosting its projections for inflation and unemployment.

Fatih Birol said at Australia’s National Press Club that the war has had a worse impact on oil than the two oil shocks of the 1970s combined.

The Federal Open Market Committee voted 11-1 to hold the benchmark federal funds rate in a range of 3.5% to 3.75%. Governor Stephen Miran dissented.

The moving and storage industry faces potential tailwinds from factors like bigger tax returns in Q2, even as economic obstacles remain.