Current Landscape: State of the Economy During the First Half of 2025

In the first half of 2025, the U.S. macroeconomic landscape was marked by moderate economic growth tempered by persistent uncertainty. The labor market remained resilient, though wage growth showed signs of cooling. Trade tensions resurfaced as new tariffs introduced volatility and clouded market outlooks. Inflation continued its downward trajectory, settling well below the highs of 2022. Meanwhile, the Federal Reserve maintained its cautious stance, keeping interest rates steady amid mixed signals. As we look ahead, one thing remains clear: the only certainty for the remainder of the year is continued uncertainty.