The economy is fine probably!
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The U.S. economy grew slightly in the first part of 2026, but oil prices reached a four-year high today. The American economy extended a streak of resilience and expanded at an annual rate of 2 percent in the first three months of the year, even as global energy prices surged in the first weeks of war with Iran. The data on gross domestic product from the Commerce Department offered the first official snapshot of how the U.S. economy is broadly faring since the oil shock from war with Iran began to work its way through prices and business decisions. Because G.D.P. is adjusted for inflation, rising fuel costs dampened growth somewhat. But the report released on Thursday showed private investment, consumer spending and government expenditures remained in solid shape before the war and in its first weeks. “On net it’s a solid number. Consumer spending has held up,” said Jason Draho, head of asset allocation for the Americas at UBS. He added, though, that the strength “could be fully of
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