Growth Holds, Fed Divided and Major Business Moves Unfold
The U.S. economy grew 2% in Q1 as the Fed held rates amid rising inflation concerns. GM boosts investment, the Gordie Howe bridge faces delays, and Smokey Bones shuts down.
U.S. Economy Shows 2% First-Quarter Growth
The U.S. economy hit a slight jump-start as 2026 began.
According to numbers released Thursday by the Commerce Department, the economy expanded at a 2% pace from January through March. While the acceleration comes after recovering from last fall’s 43-day federal government shutdown, the Iran war is still casting something of a pall over the figures. Read Full Article
Divided Fed Board Holds Steady on Interest Rates
For the third straight time, Federal Reserve officials decided to leave interest rates right where they are, though a rift in its governing board appears to be widening.
In holding rates steady – at a range of 3.5% to 3.75% — the Fed signaled a concern over rising inflation amid rising energy costs that polling shows have Americans less optimistic about the economy. Read Full Article
GM Investing $830 Million in Three U.S. Plants
General Motors is investing a combined $830 million to strengthen three key propulsion sites across its U.S. manufacturing footprint. The announcement brings GM’s investments in domestic manufacturing to more than $6 billion in the past 12 months. Read Full Article
Still No Deal to Open Gordie Howe Bridge
Pete Hoekstra is confident a deal will be worked out to get the new Gordie Howe International Bridge open. He just isn’t sure when.
Hoekstra, the U.S. Ambassador to Canada, said Tuesday the Trump administration hasn’t come to an agreement yet with the Canadian government regarding the opening of the bridge, but told Michigan Gov. Gretchen Whitmer and Republican House Speaker Matt Hall that the issue “will get worked out.” Read Full Article
Barbecue Chain Smokey Bones Closes All U.S. Outlets
Diners looking to enjoy some barbecue now have one less place to find it.
American barbecue chain Smokey Bones announced it was closing all of its U.S. locations, effective April 27, according to a report from USA Today. The move comes after Smokey Bones’ parent company, FAT Brands Inc., filed for Chapter 11 bankruptcy in January. Read Full Article