New Federal Economic Data

Floor Speech

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Mr. LATIMER. Mr. Speaker, new Federal economic data came out yesterday, and it showed that in the last 3 months, the U.S. economy shrank by 0.3 percent. This is a sharp reversal from the 2.4 percent growth the economy experienced in the last quarter of 2024. This now is the worst economy that a President has had in their first 100 days since President Nixon.

Despite promises candidate Trump made that he would lower costs on day one, prices remain high, and, in fact, it is expected that prices could rise by 6.5 percent by year's end. Trump policies are why prices remain high, even though he has tried to pin this on former President Biden.

The red light, green light tariff policies have caused uncertainty in all sectors of our economy as well as internationally. Wall Street and Main Street alike have been sending signals for weeks that they do not like or trust those economic plans. The stock market has dropped almost 9 percent and lost $4.5 trillion in wealth. This is hurting everyday Americans, including people in Westchester and the Bronx.

President Trump is the President now. It is his economy to own and fix.

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