Fed Holds as Growth Accelerates and Inflation Slows
The U.S. economy entered a rare configuration in July, one that would have made late 1990s Fed Chair Alan Greenspan nod with recognition. GDP grew 1.9% quarter-over-quarter in Q2, the unemployment rate slipped to 4.1%, and CPI rose just 0.07% month-over-month. The Federal Reserve held the fed funds rate steady at 3.63%, choosing patience over pressure as growth and inflation both moved in directions that complicate the policy calculus.
For more on Federal Reserve policy and inflation, see our Fed policy coverage hub .
Key Takeaways Q2 2026 GDP increased 1.9% quarter-over-quarter, accelerating from the 1.5% pace in Q1. The unemployment rate fell to 4.1% in July, its lowest level since early 202…
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