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Economic conditions in the country and in trucking remain relatively strong, but American Trucking Associations Chief Economist Bob Costello said he has concerns about early 2023 and puts the chance of a recession in the first quarter of the year at 50-50.

The Federal Reserve raised interest rates by 75 basis points — the biggest increase since 1994 — and Chair Jerome Powell signaled another big move next month, intensifying a fight to contain rampant inflation.

NEW YORK — Wall Street tumbled into what’s called a bear market June 13 after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year.

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WASHINGTON — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported May 26 in a slight downgrade of its previous estimate for the January-March quarter.

A gauge of logistics stress in the U.S. economy eased in April as freight transportation cooled, a sign that the broader economy is downshifting to a speed that remains expansionary.

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to political headaches for President Joe Biden, it’s unlikely to dissuade the Federal Reserve from hiking interest rates aggressively to combat inflation.

Real economic activity in the U.S. is slowing sharply. This is showing up in lower demand for new trucks and autos, and a tailing off in freight volumes, leaving transport stocks facing more downside.

NEW YORK — Wall Street pointed toward a higher open on March 22, one day after Chairman Jerome Powell said the Federal Reserve was prepared to raise its benchmark short-term interest rate by a half-point multiple times, if necessary, to battle inflation.

Carriers have struggled to fully capitalize on high demand because of factors suppressing volumes, American Trucking Associations Chief Economist Bob Costello said March 1.