U.S. GDP(Q2) Forecast: Economic Growth Likely Picked Up, Fed to Watch Closely

U.S. economic expansion is anticipated to have accelerated in Q2, driven by robust consumer spending and an increase in inventory accumulation. Despite this, the projected rate of growth is not expected to deter the Federal Reserve from maintaining the prospect of a September interest rate reduction.

The forthcoming advance report on the second-quarter GDP from the Commerce Department, scheduled for release on Thursday, is anticipated to indicate a significant deceleration in inflation, with all indicators showing below the 3% mark. This will be reassuring news for Federal Reserve officials as they approach their upcoming two-day policy meeting the following week.