US Economy Slows Down Amid Persistent Inflation Concerns

The US economy grew at a slower pace in the second quarter compared to the first three months of the year, according to new economic data released by the Commerce Department. The GDP growth rate was 1.5% in the second quarter, which is lower than expected.

Inflation remains a concern as core inflation, which excludes fluctuations in food and energy prices, rose 3.3% since last year and grew 0.3% in June alone.

The Federal Reserve has been focused on achieving its 2% inflation target and has kept interest rates steady at around 3.6%. Despite some signs of cooling, inflation remains roughly double the Fed's goal.