U.S. Economy Grows 1.5% Amid Persistent Inflation

Why it matters locally: Persistent national inflation, reflected in the economic growth report, directly impacts Nebraskans through increased costs for agricultural inputs, consumer goods, and services, affecting household budgets and the state's key agricultural industries.

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The U.S. economy expanded at an annual rate of 1.5% during the second quarter, as reported by economic data. This growth rate occurred while inflation remained above the central bank's stated 2% target. Consumers experienced elevated living costs during this period. The upcoming midterm elections are scheduled to take place within 100 days.