U.S. GDP growth slows to 2.1% in the 2nd quarter

Data: Bureau of Economic Analysis The U.S. economy grew at a 2.1% annualized rate in the second quarter. =It’s a significant slowdown from the first quarter’s 3.1% growth rate, but still better than the 1.9% economists had expected. Once again, strong consumer spending offset the sharp decline in business investment and trade’s drag on growth. … Read moreU.S. GDP growth slows to 2.1% in the 2nd quarter

Fed opens the door to potential rate cuts later this year

The Federal Reserve kept interest rates on hold on Wednesday (June 19), but signaled that rate cuts could be coming down the road. It removed the key word “patient” from its policy statement, while noting that “uncertainties” about its previously rosy economic outlook have increased. This marks a significant shift in tone for the central … Read moreFed opens the door to potential rate cuts later this year

Powell’s Concern Over Zero Rates Expected to Lower Bar for Fed Cut

Chairman Jerome Powell’s frequent assurance that sustaining the U.S. economic expansion is the Federal Reserve’s “overarching’’ goal is opening the door to potentially aggressive interest-rate cuts. The timing, size and whether such moves are indeed in his plans may become clearer when Powell and his colleagues meet on Tuesday and Wednesday in Washington. While investors … Read morePowell’s Concern Over Zero Rates Expected to Lower Bar for Fed Cut