The U.S. economy powers ahead. Amid the Iran conflict and a barrage of tariffs, growth holds firm. Barclays pegs first-quarter GDP at 2.3% annualized, outpacing trackers by a full point. Industrial output dipped 0.5% in March. Normalization, not weakness. AI capital goods demand surges. Consumers spent 0.8% quarter-on-quarter through February. March retail sales? Up 1.3% month-on-month, per Barclays. Yet questions linger. How long can this last? Investing.com captures the tension. ‘The U.S. economy has so far weathered the Iran conflict with limited disruption to activity, but Barclays believes the durability of that resilience remains an open question.’ Fiscal buffers help. Budget deficits hit $2 trillion for fiscal 2026 and 2027, swelled by defense outlays offsetting tariff shortfalls. The Fed stays put in April. Cuts eyed for September, maybe March 2027. Risks tilt toward higher-for-longer rates. And oil roils everything. Hormuz disruptions spike crude. U.S. gas prices climb 47% since December.…