Economy

Q1 2026 GDP came in at 1.6% on a surge in business investment, but PCE inflation at 3.5% keeps rate cuts off the table for the rest of the year.

Home sales in Austin fell 14 percent in May as mortgage rates climbed above 7.2 percent, squeezing first-time buyers out of a market that added 80,000 residents last year alone.

With PCE at 3.5% and GDP growing just 1.6%, the Fed enters its June 16-17 meeting with markets skeptical of cuts and a recession debate quietly building in the background.