U.S. Economy Grows 1.5% Amid Persistent Inflation

Why it matters locally: Florida, with its large population and diverse economic landscape, will feel the effects of national economic growth and persistent inflation through consumer spending patterns and the cost of living for its 22,610,726 residents.

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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.