Williams says first-half GDP growth was about 1.5 percent, well below last year's 2.5 percent pace.
“Looking through the downs and ups in the data, growth in the first half of the year was about 1-1/2 percent, well below last year’s 2-1/2 percent pace.”
Williams says real GDP grew 2 percent in 2025 and expects that pace to continue this year.
“Real GDP grew 2 percent in 2025 and is poised to maintain that pace for the rest of this year.”
Williams expects trade and immigration policies combined with uncertainty to weigh on growth.
“But based on what the data tell us today, I expect the combined effects of trade and immigration policies and associated uncertainty to continue to weigh on growth.”