quarter: Analysts expected markedly weaker growth numbers Friday for the second quarter, adding to the pile of worries central bankers already had about global softening, according to CNN. The US economy grew at an annual rate of 2.1% in the second quarter, the Commerce Department announced Friday. Yet that highly anticipated policy decision will be far less the result of the President's unprecedented public assault on the Fed, including demands not to blow it, than the product of tremendous uncertainty caused by the Trump administration's erratic trade war with China and other countries, which has weakened global growth and dampened investment. That's better than economists had expected, but slower than the 3.1% pace in the first quarter. Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. US economy grew at a slower pace in the second quarter Trump quickly jumped at the chance to pin the weaker growth reading on interest rate policy.
(news.financializer.com). As
reported in the news.
Tagged under quarter, commerce topics.