US economy grows sluggish 1.5% in second quarter as inflation tops Fed target

The US economy expanded at a sluggish one point five percent in the second quarter, The Guardian reports — a deceleration from the previous quarter's two point one percent and below what economists expected. Rising imports dragged on growth, but consumer spending held up. The Federal Reserve's favored inflation measure eased last month but remained above the central bank's two percent target, with policymakers keeping rates steady.

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