Tag: Federal Open Market Committee

U.S. Economic Growth Beats Expectations in Second Quarter

Minnesota Sun Staff

The U.S. economy grew at a rate of 2.8 percent in the second quarter of 2024, according to gross domestic product (GDP) statistics released by the Bureau of Economic Analysis (BEA) on Thursday.

Higher growth in the second quarter follows poor growth in the first quarter of 2024, which measured 1.4 percent after being revised down from an initial estimate of 1.6 percent, according to the BEA. Economists expected that GDP would increase by around 2.1 percent in the second quarter of 2024, in line with typical U.S economic growth rates.

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More Investors Bet Inflation Is Here to Stay amid Disappointing Price Data

Minnesota Sun Staff
Investor at Work

More investors are projecting a “no landing” scenario where inflation remains elevated but economic growth continues at its current levels following a disappointing inflation report on Tuesday, according to Reuters.

Nearly one out of five fund managers polled by Bank of America predicted a “no landing” scenario as the most likely outcome in the next year, with concerns about such a scenario being intensified by a poor inflation reading that sent U.S. markets into a frenzy on Tuesday, according to Reuters. Tuesday’s consumer price index (CPI) report showed inflation decelerated in January to 3.1% year-over-year from 3.4% in the preceding month, higher than expectations of 2.9%.

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