What GDP Actually Tells You, the Great Wealth Transfer, Project Freedom on Pause, and the Double Squeeze on Families

This week: The government’s first look at Q1 GDP shows the economy grew 2%, but AI-related investment did much of the heavy lifting while consumer spending on dining and everyday goods pulled back. The Wall Street Journal reports on the Great Wealth Transfer, an estimated $124 trillion set to change hands by 2048, and we explain what that actually looks like for many families. The U.S. pauses Project Freedom, its effort to guide ships through the Strait of Hormuz, as oil stays above $100 and gas hits $4.54. And the country is short roughly 4 to 5 million homes and millions of childcare slots at the same time, creating a double squeeze on family budgets.