US Economy Shows Signs of Rebound in Q3 Amid Rising Rate Concerns

The US economy is showing signs of rebounding in the third quarter after a slowdown in Q2, according to various GDP nowcasts. The median nowcast for a set of estimates compiled by The Capital Spectator puts economic growth at an annualized rate of 2.8%.

Rising interest rates and inflation concerns are casting a shadow over the outlook beyond Q3, with the Federal Reserve's decision to raise its target rate last week contributing to the uncertainty. This move was the first in three years for the Fed.