Stories from United States

The U.S. economy grew at an annual rate of 2 percent during the first three months of the year. This growth rate was slightly slower than forecasters had expected. The Commerce Department reported the uptick in first quarter economic growth.

The national average price for a gallon of regular gasoline in the US has reached $4.30, according to AAA. President Trump dismissed concerns that high gas prices will persist long after the Iran War concludes. Consumer prices rose 0.7 percent from February, according to a report by Saka Magani. Compared with a year ago, prices were up 3.5 percent, marking the largest hike in nearly three years. Democrat Rosa DeLauro stated that bipartisan packages have passed the Senate and are moving to President Trump. The report noted that soaring gas prices pushed inflation higher last month. These remarks follow reports of the global economy feeling strain from the situation in the Strait of Hormuz. The Iranian oil industry is currently struggling under a U.S. Navy blockade. The remarks come as the global economy faces strain from Iran's control over the Strait of Hormuz.

The US Farm Bill, which governs various agricultural policies including crop insurance and school lunches, is scheduled for a vote in Congress. Most Republicans voted in support of the bill while most Democrats voted against it. Chairman Thompson was credited with bringing the bill forward. Democratic Representative Jim McGovern commented on the bill's progress earlier this week. The legislation's journey through Congress has been described as difficult. The bill aims to address agricultural and energy policy issues. The proposed farm bill includes $187 billion in cuts to the Supplemental Nutrition Assistance Program (SNAP). According to the Congressional Budget Office, this figure represents approximately a 20% reduction in benefits for low-income and poor individuals. The cuts are expected to impact the program over the course of the year.

Cole Allen, a teacher from Southern California, is scheduled for a detention hearing in Washington, DC. The hearing will determine if authorities can continue to detain Allen following an alleged assassination attempt on the president at a correspondence dinner last Saturday.

Colombian driver Sebastian Montoya will compete in the Formula 2 Miami Grand Prix weekend. Following the cancellation of two previous competitions in the Middle East, Montoya is scheduled to begin practice and qualifying sessions on Friday at 8:30 AM. The Sprint race is set for Saturday at 9:00 AM, followed by the main Grand Prix race on Sunday morning. Formula 1 racing is scheduled to resume in Miami following a hiatus of over one month. The pause in racing was caused by the ongoing conflict between the United States and Iran. Mercedes is currently considered to have the best car for the upcoming track. F1 expert Andreas Troil stated that Mercedes currently has the best car for the Miami track.

Capital expenditure estimates for data centers are projected to reach between $700 billion and $750 billion for 2026. Companies have been spending massively on AI to drive these figures. This spending follows a trend of quarterly earnings and sales exceeding expectations.

Park ranger supervisor Mark Piazza reported an increase in high-powered e-motos being used on the American River bike trail. These devices are classified differently than e-bikes and are illegal on the trail.

Microsoft is on track to exceed $100 billion in capital expenditures related to artificial intelligence. A senior wealth advisor noted that tech companies are still determining how to maximize returns on these investments. The advisor suggested that while growth is expected, monetization may take longer to materialize. Investors may face a period of uncertainty regarding the pace of returns. Analysts noted that investors on Wall Street are seeking immediate monetization as companies like Microsoft, Amazon, and Google increase spending beyond previous projections. The report indicated that investors are often dissatisfied when these companies report higher spending alongside lower than projected revenue growth. This surge in spending is driven by sustained demand for artificial intelligence technologies.

AvRide has launched a pilot program for self-driving vehicles on sidewalks in Arlington. The program aims to test autonomous navigation in pedestrian environments. No specific timeline for full deployment was provided.

The US Treasury is launching a program to provide cybersecurity information sharing and intelligence to the digital asset industry at no cost. The initiative aims to improve information sharing and security standards for crypto-related entities.