The slowdown — the first since the covid recession back in April 2020 — marks a reversal from the torrid pace that followed intense fiscal and monetary stimulus in the wake of the pandemic. Last year, for example, the U.S. economy grew by 5.7 percent, the fastest full-year clip since 1984.
While most economists still believe the expansion has plenty of momentum, particularly given the strength of the job market, recession fears have been rising, as inflation shows little signs of easing. The weakness comes amid…
