Posted:
#376
Quote Originally Posted by fubah2:
Quote Originally Posted by fubah2: America’s economic engine is still revving! — AND inflation is slowing! CNN - Consumer spending accounts for the vast majority of the US economy, about 70% of it. Spending accelerated sharply in the second quarter to an annual rate of 2.3%, up from 1.5% in the first quarter! The economy’s enduring strength is also a boon for the Biden administration. Despite the Fed aggressively raising interest rates to tamp down inflation, the economy has so far avoided a recession. Last year, the resilience of the US consumer shocked economists who widely expected an economic downturn to ensue.
Quote Originally Posted by fubah2: America’s economic engine is still revving! — AND inflation is slowing! CNN - Consumer spending accounts for the vast majority of the US economy, about 70% of it. Spending accelerated sharply in the second quarter to an annual rate of 2.3%, up from 1.5% in the first quarter! The economy’s enduring strength is also a boon for the Biden administration. Despite the Fed aggressively raising interest rates to tamp down inflation, the economy has so far avoided a recession. Last year, the resilience of the US consumer shocked economists who widely expected an economic downturn to ensue.
The latest GDP report showed that a key gauge
of consumer demand picked up in the second
quarter to an annual rate of 2.9%, matching the
rate in the fourth quarter of 2023 for the strongest
pace in two years! A measure of business investment
also strengthened in the April-through-June period.
The current health of the American economy shows
that the Fed, with Jerome Powell at the helm as chair,
has successfully handled inflation so far,
with the finish line coming into clear view. 
1
Harris earns lead over trump!
the stock market is in a minor selloff today !!!!! 
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