US Economy Stagnates at 1.5% Growth Amid Stubborn Inflation

The US economy grew at a sluggish pace of 1.5% in the second quarter, with inflation remaining stubbornly high.

The latest figures from the government's Bureau of Economic Analysis (BEA) show that economic growth has slowed down significantly since the first quarter of this year.

Despite some sectors showing signs of improvement, such as a slight increase in consumer spending, the overall economy is still struggling to gain momentum. The high inflation rate, which rose to 3% in June, is also a major concern for policymakers and economists.

Federal Reserve Chairman Kevin Warsh has warned that the central bank will continue to monitor inflation closely and take necessary actions to keep it under control.