
The US economy contracted. Don't panic
CNN
The economic recovery from Covid-19 stumbled in the first quarter, but that doesn't mean a recession is imminent.
Gross domestic product unexpectedly declined at an annual rate of 1.4% during the first three months of the year — the worst quarter for the American economy since the pandemic turned the world upside down in the spring of 2020.
However, economists say Thursday's ugly — and confusing — GDP report is not a reason for panic, nor a harbinger of an immediate recession. It was distorted by temporary factors, most notably a massive trade deficit due to supply disruptions, that mask underlying strength in the economy.

It was almost an extraordinary scene in front of the White House. As Tesla shares have been tanking since the year began, President Donald Trump held remarks outside of the White House with the company’s CEO and Department of Government Efficiency Head Elon Musk – all in front of a line of shiny Tesla vehicles.