The Economy’s Soft Landing

The nation’s gross domestic product, the value of all goods and services produced in the U.S., expanded at a seasonally adjusted annual rate of 2.8% in the April-to-June period. The new data raises confidence the economy has achieved a “soft landing” — healthy economic growth alongside cooling inflation.

Consumer spending is the backbone of the U.S. economy. It rose at a 2.3 percent annual rate in the second quarter indicating consumer confidence is strong.

Business investment grew 5.2% after rising 4.4% the prior quarter.

Inflation also continued to cool. Consumer prices increased at a 2.5 percent rate, down from 3.4 percent in the first quarter. The Fed’s target is 2 percent inflation per year. The Fed will most likely cut interest rates soon.

Gross domestic product, adjusted for inflation, increased at a 2.8 percent annual rate in the second quarter. That is fantastic.

Since the recent shooting, Trump claimed a bullet ripped through his ear; however, it is notable that there has not been a medical review of Trump’s alleged injuries.