U.S. Economy Grew at 2.8% Rate in Latest Quarter
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The U.S. economy grew at a 2.8% annual rate in the second quarter, faster than the 1.4% rate in the first quarter; Consumer spending rose at a 2.3% annual rate in the second quarter; Inflation eased in the second quarter, with consumer prices rising at a 2.6% rate; The data suggests the economy is on track for a 'soft landing' with cooling inflation; Fed officials will meet next week to discuss lowering interest rates; The housing market has struggled due to high borrowing costs; Some families, especially those with low or moderate incomes, are struggling with high prices and insurance costs; Unemployment has stayed low and wages have risen faster than prices; The job market is critical for consumer spending and the overall economy.

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https://www.nytimes.com/2024/07/25/business/economy/us-gdp-economy-inflation.html