National Economic Council Director Kevin Hassett said Sunday that the Trump administration expects the war involving Iran to conclude within weeks and believes the U.S. economy is positioned to withstand the conflict’s energy-market disruption.

The U.S. economy grew at a rate of 0.7% in the fourth quarter of 2025, according to a second estimate released on Friday by the Bureau of Economic Analysis.

UBS economists warn the U.S. economy faces a “bumpy” path as tariffs, inflation, and narrow growth drivers raise concerns

Discussions are expected to focus on shifting US tariffs, Chinese rare earths, American high-tech export controls and Chinese purchases of US agricultural products.

The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at a sluggish 0.7% annual rate from October through December.

The latest estimate pegs fourth-quarter growth at a 0.7% annual pace, roughly half the initial 1.4% reading, after a brisk 4.4% surge in the third quarter. The comedown reflects a sharp pullback in federal spending, softer exports, and a slowdown in goods purchases, according to The Associated Press.

Hiring at US businesses unexpectedly plunged last month as employers shed an estimated 92,000 jobs, according to new data released Friday by the Bureau of Labor Statistics.

The report also underscores an odd aspect of the U.S. economy: It is growing steadily, but without creating many jobs. Growth was a fairly healthy 2.2% in 2025, yet a government report last week showed that employers added less than 200,000 jobs last year — the fewest since COVID struck in 2020.

Crude prices approaching $100 per barrel may not be especially harmful for the U.S. economy, according to research firm Capital Economics, which notes that the country’s position as a modest net exporter of energy helps soften the impact.