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US Economy Grows 2%, Adds 172 k Jobs, Gains Energy Independence

6/14/2026

48 8 Full Breakdown

Summary

Story summary

U.S. firms raised capital spending to 13.9% of GDP despite tariffs, RSM chief economist Joe Brusuelas said.
The U.S. economy grew 2% as May inflation climbed to 4.2%, the fastest rise in three years.
American employers added 172,000 jobs in May, surpassing expectations.
The shale revolution made the United States a net oil and gas producer, reducing exposure to rising oil prices, while Europe remained vulnerable after Russian gas cuts.

History

Historical Context

The October 1973 OAPEC oil embargo against the United States and other supporters of Israel caused crude prices to jump from $3 to $12 a barrel, spurring nationwide rationing and the creation of a Strategic Petroleum Reserve. The shock also drove the U.S. to pursue energy-independence policies, a legacy that shapes today’s shale-driven capital spending.

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Story summary

U.S. firms raised capital spending to 13.9% of GDP despite tariffs, RSM chief economist Joe Brusuelas said.
The U.S. economy grew 2% as May inflation climbed to 4.2%, the fastest rise in three years.
American employers added 172,000 jobs in May, surpassing expectations.
The shale revolution made the United States a net oil and gas producer, reducing exposure to rising oil prices, while Europe remained vulnerable after Russian gas cuts.

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