Following data showing the economy grew more than expected in the second quarter, U.S. President Donald Trump once again called on the Federal Reserve (Fed) to cut key interest rates today.
“SECOND QUARTER GDP JUST CAME OUT: 3%, MUCH BETTER THAN EXPECTED! ‘Too Slow’ MUST NOW CUT THE RATE. There is no Inflation! Let people buy, and refinance their homes!” Trump wrote on Truth Social, referring to Fed Chair Jerome Powell, as the central bank prepares to release its policy statement.
Gross Domestic Product grew 3.0% on an annual basis last quarter, the Commerce Department’s Bureau of Economic Analysis reported in its preliminary estimate for second-quarter GDP. The economy had contracted 0.5% in the January-March quarter.
