The #US #economy grew faster than expected in the second quarter, but #inflation subsided, leaving intact expectations of a Sept #InterestRate cut from the #FederalReserve.

#GDP increased at a 2.8% annualized rate last quarter, the #Commerce Dept’s Bureau of #Economic Analysis said in its advance estimate of 2nd-quarter GDP on Thurs. Economists polled by Reuters had forecast GDP rising at a 2.0% rate.

#Bidenomics #Harris2024
https://www.reuters.com/markets/us/us-economic-growth-regains-steam-second-quarter-inflation-slows-2024-07-25/