Bankers Need and Long-Anticipated Increase

consumer spending: Turns out central bankers need not have fretted so much, according to Market Watch. After a surge in consumer spending in the spring, the U.S. economy probably grew at least twice as fast in the second quarter as it did in the first three months of the year. WASHINGTON — The Federal Reserve was so worried about the U.S. economy just a month ago that it put off a long-anticipated increase in interest rates to see how things panned out. Sales at online stores and many other retailers have been particularly strong. Second-quarter GDP will be released at the end of the month. As a result, gross domestic product likely rose at a 2.5% annual clip from April to June, up from 1.1% in the first quarter, according to economists polled by Market Watch. (news.financializer.com). As reported in the news.