Economic Growth Slows to 0.5% in First Quarter

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The economy grew at a sluggish 0.5 percent annual rate in the first quarter. The main culprits for the poor performance were downturns in durable goods, nonresidential construction, and defense spending. This is the third year in a row in which growth has been poor in the first quarter, which means that one-off excuses about snowstorms and so forth don’t really hold water anymore. But it might be a statistical artifact. Jared Bernstein says “there’s some concern with the seasonal adjusters, which some argue are biasing Q1 down and Q2 up.” I guess we’ll have to wait until Q2 to find out.

Even if that’s true, however, growth is still fairly listless, averaging around 2 percent per year. It’s yet another indication that the global economy remains fragile and the Fed should think twice before raising rates any more than they’ve already done.

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Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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