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Economy Slows, Inflation Stalls, Jobs Rise | Irvine News
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The U.S. economy grew at a tepid 1.5% in the second quarter, missing forecasts and dragged down by rising imports — even as consumer spending held steady. Inflation cooled slightly, with core prices up just 0.1% month-over-month and still hovering above the Fed’s 2% target, fueling voter frustration ahead of November’s midterms. Amid global tensions and energy spikes, the job market rebounded strongly, adding 92K jobs monthly — giving consumers the confidence to keep spending and keeping the economy afloat despite the headline slowdown.
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