U.S. Economic Growth Accelerates

“The U.S. economy grew solidly last quarter and remained well clear of a recession despite the Federal Reserve pushing interest rates higher,” the Wall Street Journal reports.

“Gross domestic product grew at a seasonally and inflation adjusted annual rate of 2.4% in the second quarter, picking up slightly from 2% growth in the first three months of the year.”

CNBC: “Perhaps as important, inflation was held in check through the period. The personal consumption expenditures price index increased 2.6%, down from a 4.1% rise in the first quarter and well below the Dow Jones estimate for a gain of 3.2%.”