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GDP surges by 2.8%, raising expectations for interest rate cuts

Summary by Fox Business
As a welcome surprise, the gross domestic product (GDP) increased 2.8% annually in the second quarter, an advance estimate released by the U.S. Bureau of Economic Analysis found. Generally, a GDP between 2% and 3% signifies a strong U.S. economy, so this is good news for the overall economic outlook. In the first quarter, GDP increased by just 1.4%.As the GDP increases and the economy evens out, it’s more likely that the Federal Reserve will cut…
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