Yesterday’s News 2026 05 01

curated news excerpts & citations

GDP change from previous quarter

Harriet Torry @ WSJ: AI Investment Boosted Economic Growth, While Consumers Tapped the Brakes

GDP grew at a 2% rate in the first quarter, improving after shutdown-induced slowdown

U.S. economic growth picked up in the first quarter as businesses invested heavily in artificial intelligence, rebounding from a fourth quarter dented by a government shutdown.

At the same time, the economy didn’t expand as fast as economists expected, weighed down by softer consumer spending growth.

Paul Krugman: The Logic of NACHO

On Wall Street, TACO — Trump Always Chickens Out — has abruptly been replaced as a favorite meme by NACHO — Not a Chance Hormuz Opens. As a result, oil futures have soared.


Oil Soars to War Time High

Heather Cox Richardson: Letters from an American – April 30, 2026

Today G. Elliott Morris of Strength in Numbers noted that Trump has hit a new low in overall job performance and in his handling of the economy, at -22.2 and -40.3, respectively. Those numbers reflect the percentage of people who approve of his handling of an issue minus those who disapprove. Indeed, Morris noted that Trump’s approval rating on the economy is so low it “literally broke the scale of this graph on my data portal.”

The upcoming elections are definitely on Trump’s mind. He called in to NewsMax today, saying: “It is a problem I’m not on the ballot. And I have to convince—Everyone says if I was on the ballot we’d win in a landslide. I have the best, I have some of the best poll numbers I’ve ever had.”
(Heather Cox Richardson more…)


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