For Trump, a Promised Economic Boom Collides With the Costs of War
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President Trump had envisioned a growing economy and improving fortunes for American families in 2026. That appears at risk in his war with Iran.
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Inflation actually ticked up to open the year, according to a gauge preferred by the Federal Reserve, with prices rising at an annual rate of 2.8 percent. That cut into what had been an increase in personal income in January. And the government found that the economy grew more slowly in the final three months of 2025 than it had initially estimated. The dip came as a result of the government shutdown during that period.
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