The economy grew by an annual rate of 3.3% in the fourth quarter of 2023, according to an initial estimate of real GDP from the Bureau of Economic Analysis.
Under Trump, tens of thousands of federal workers have been fired or left voluntarily, but it remains to be seen whether the cuts will have significant economic impact.
Among Trump’s first set of executive orders are several that could impact the economy, including a review of trade deals, cutting red tape to increase gas production and imposing border restrictions.
Manufacturing employment has declined from its peak, but remains one of the largest sectors of the U.S. economy. It's also the fifth largest employer in the U.S.
The state of the economy is generally strong and inflation is slowing down, but still remains elevated. The Federal Reserve is looking at key economic indicators to signal it’s time to cut rates.