Economy’s growth slowed to 1.5% in Q2 as government spending, investments, and exports dipped—though consumer spending surged, buoying optimism. Fed’s inflation gauge remains stubbornly high at 3.7%, and while rates stayed flat, three Fed members surprisingly voted for a hike—marking the first such move in three years. Chair Kevin Warsh insists inflation is under control and rates won’t drop anytime soon.
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