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From the opinion pages of the Wall Street Journal, this is Potomac Watch.

Is the American economy struggling or on the cusp of a new golden age or somewhere in between?

Even economists of various stripes can't seem to decide in a week when we're getting a flood of economic data

that ought to be able to tell us just where we are on economic growth and heading into the

future. We'll try to make sense of all the numbers for you here on Potomac Watch, as well as

the Federal Reserve decision to stand pat on interest rates. Welcome,

I'm Paul as you go. This is our daily podcast from the Wall Street Journal opinion pages,

and I'm here with two of my closest colleagues and watchers on the economy. Joe Sternberg and

Mary O'Grady. Welcome to you both. So let's just start out with a couple of details here for

facts to give us a little backdrop. First, the Fed didn't change its interest rates this week's

with Chairman Jay Powell basically saying at his presser that they're still waiting to see about the

impact of tariffs on inflation. And in the meantime, the economy is not bad.

Growth is slow, but it's doing fine.

We also get a flood of new tariff deals by the president.

They're coming daily now ahead of his Friday, August 1st deadline for reaching agreements.

A lot of those deals are coming in with higher tariffs.

Many people thought,

higher than the 10% that he imposed in April. Meanwhile, you get GDP, the gross domestic product

numbers came in at 3% for the second quarter, which sounds pretty good, except if you look

...