The U.S. economy powered through the second quarter, growing more than expected even as inflation resumed its path back to the Federal Reserve’s 2% target. Real GDP grew at an annualized rate of 2.8% in the second quarter according to the Bureau of Economic Analysis. That was not only a significant rebound from the 1.4% pace logged in the first quarter of the year, but it surpassed the 1.9% growth forecast by economists. A robust economy is a good sign for the average consumer and because it came in tandem with positive data on prices, it is in line with the soft landing of a healthy economy and cooling inflation that Federal Reserve officials are looking to achieve. Economists consider real GDP growth rates of between 2% and 3% to be healthy in developed economies.
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