US economy contraction - NATO expansion plans - Prosecutions on tribal land

Gross domestic product fell at a 1.6% annualized rate last quarter, revised down from the 1.5% reported last month. That was the first drop in GDP since the short and sharp recession nearly two years ago. Consumer spending, which accounts for more than two-thirds of the economy, grew at a 1.8% rate instead of the 3.1% reported last month.
...
The economy appears to have rebounded from the first-quarter slump, with consumer spending accelerating in April. Business spending on equipment remained solid through May, while the goods trade deficit narrowed significantly as exports hit a record high. But the bounce is losing momentum because of the Fed's aggressive posture.
...
"It is extremely unlikely the economy is in recession now, however, despite the decline in first-quarter GDP and apparent weakness in output growth in the current quarter," said Scott Hoyt, a senior economist at Moody's Analytics. "Job growth remains strong, investment is growing, both households and business have strong balance sheets."