US GDP Slows to 1.5% as Core Inflation Holds at 3.3%
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- U.S. GDP grew just 1.5% in the second quarter, a pace outlets including CNBC and AP described as a surprise slowdown relative to expectations
- Core inflation held at 3.3% in June, indicating that price pressures remained stubbornly elevated even as the economy decelerated
Why it matters: With growth slowing to 1.5% and core inflation still at 3.3%, the economy is losing momentum while price pressures persist — squeezing consumers and businesses who face a weaker expansion and continued erosion of purchasing power at the same time.
