New economic data on slowing economy, persistent inflation
The Commerce Department released key economic reports Thursday, offering insights into U.S. economic growth and inflation trends. The U.S. economy grew slightly in the second quarter, but inflation continues to exceed the Federal Reserve's annual 2% target. The reports include the Personal Consumption Expenditures Price Index, which is the Federal Reserve's preferred measure of inflation, and the GDP report for the second quarter. The report reveals how the economy grew or shrank from April to June.
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