The US economy will growin 2025–26, but tariffs and other factors are dampening expectations.

The US economy is expected to grow by 2.0% this year and 1.7% in 2026, according to The Conference Board—both revised down from previous projections. What's driving this pessimism about economic growth, and could stagflation become a serious risk?

Join Steve Odland and guest Yelena Shulyatyeva, Senior US Economist at The Conference Board Economy, Strategy & Finance Center, to find out what's driving this economic uncertainty, how tariffs could affect GDP and inflation, and why The Conference Board expects the Federal Reserve to make three rate cuts in 2025.

(00:21) Overview of the U.S. Economic Forecast (01:10) Factors Influencing GDP Growth (02:42) Consumer Confidence and Spending (05:42) Labor Market Projections (10:12) Inflation and Stagflation Concerns (12:05) Federal Reserve's Rate Decisions (17:25) Impact of Tariffs on the Economy (20:46) Global Economic Outlook

For more from The Conference Board:

• Global Forecast Update

• Tariff Tracker

• What's Behind Conflicting US CEO & Consumer Confidence Readings?