US economic growth regains steam in second quarter; inflation slows
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The US economy grew at a faster-than-expected rate of 2.8% in the second quarter, with inflation subsiding. This has maintained expectations of a September interest rate cut from the Federal Reserve. The economy grew at a 1.4% rate in the first quarter. The personal consumption expenditures (PCE) price index, excluding food and energy, increased at a 2.9% rate, down from 3.7% in the first quarter. The Federal Reserve has maintained its benchmark interest rate at 5.25%-5.50% for the past year and is expected to cut rates three times this year, starting in September. Despite solid economic growth, there are concerns about a slowing labor market, low saving rates, slowing state and local government revenues, and the impact of new tariffs.

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https://www.kitco.com/news/off-the-wire/2024-07-25/us-economic-growth-regains-steam-second-quarter-inflation-slows