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Goldman Sachs's economists highlight "difficulties in capturing swings in inventories and consumption, which tend to be measured less accurately than imports." This is surely what is to blame, not the mere fact that imports surged.

Wincott winner Matthieu Favas of The Economist receives his award for Journalist of the Year today!

This is a real headline. 🤣

Sorry, you can't have your cake and eat it too. The TCJA's individual income tax cuts were made temporary to lower the cost. You can't now say they actually were not temporary and say they cost nothing to extend.

We wrote on April 5th that the “Liberation Day” tariffs faced strong legal challenges. Because of them the courts have now thrown American trade policy into even deeper chaos economist.com/finance-and-ec…