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On June 24, U.S. Treasury Secretary Scott Becerra stated that he believes no one should publish the dot plot. Becerra added, "The only reason I ever liked the dot plot was when I was running my own investment business; we had a trading model specifically for reverse trading the dot plot because the dot plot is always wrong." Becerra expressed appreciation for Federal Reserve Chair Waller's decision to eliminate forward guidance. He also mentioned that he has breakfast with Waller every week, consistent with the practice during Powell's tenure as Fed Chair.

On June 24, Goldman Sachs stated in its latest research report that the AI investment boom has not yet peaked, but the market pricing for its future returns is clearly ahead of macroeconomic realizations. The firm pointed out that the share of U.S. technology investment in GDP has surpassed the peak during the internet bubble of the 1990s, with capital expenditure expectations for major cloud providers being revised up nearly 80% in the past six months for 2026. This wave of investment continues to drive revenue and profit growth in the semiconductor, cloud computing, server, and data center supply chains, leading to increasingly high valuations for AI-related assets. However, unlike the late 1990s, the current risks no longer primarily stem from a pure valuation expansion detached from fundamentals, but increasingly from the market's expectations for the long-term sustainability of high profit margins and capital returns. Goldman Sachs believes that the core contradiction of the AI market is intensifying: fundamentals remain strong, but the market has already priced in too much future earnings.

The proportion of GDP increased slightly from 2.8% to 2.9%. The expansion of the deficit was not caused by trade. In fact, the merchandise trade deficit narrowed, with exports of goods and services jumping by $50 billion to $1.38 trillion. The main drag came from primary income, which shifted from a surplus in the fourth quarter to a deficit in the first quarter. This account reflects the difference between income earned by U.S. residents holding foreign assets and income earned by foreign residents holding U.S. assets. This change reveals a shift in relative returns and shows that the cost of financing increasingly imbalanced balance sheets is rising. Notably, the annual revision was significant. The fourth quarter deficit was revised from the initial -$190.7 billion to -$221.1 billion, and the net international investment position was also corrected by nearly $600 billion.