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A downturn in government and consumer spending contributed to the slowdown in fourth-quarter growth, the government said. Consumer spending rose just 2.2%.

The pool of available truck drivers showed signs of tightening during the fourth quarter amid a freight market that continues to face headwinds, according to experts.

Paladin is the latest in a growing list of larger carriers to either shutter operations or declare bankruptcy amid the ongoing freight rate recession, including R&R Family of Cos.

In January, Pittsburgh-based R&R Family of Cos. shut down, according to a source. According to the source and court documents, R&R lost the backing of its largest lender.

The Federal Open Market Committee voted 10-2 Jan. 28 to hold the benchmark federal funds rate in a range of 3.5%-3.75%. The two dissenting were in favor of a quarter-point reduction.

GDP rose at a 4.4% annual pace in the third quarter, the Commerce Department reported Jan. 22, up from 3.8% in the April-June quarter and from the 4.3% growth the department initially estimated.

President Trump said if Hassett were to leave the White House National Economic Council, it would deprive the administration of one of its most powerful messengers of the economy.

The Federal Reserve is expected to cut short-term rates in 2026, with its key interest rate settling at 3.4% toward the end of President Donald Trump's term in office in 2028, according to the CBO.

The global economy is forecast to expand 2.7% this year, down from an estimated 2.8% in 2025, the U.N. said in its World Situation and Prospects study released Jan. 8.

The U.S. and more than 100 other countries finalized an agreement that would exempt American companies from some foreign taxes, the culmination of a monthslong effort to create a carve-out.