US economy grows 1.5% in Q2 2026, June inflation 3.7%
The US economy grew by just 1.5% in Q2 2026, down from last quarter's 2.1%.
That's less than expected, with rising imports holding things back even though people kept spending.
Inflation is still above the Fed's target, and prices climbed 3.7% in June compared to last year (a bit lower than May's 4.1%).
Fed holds rates, 3 presidents dissent
The Federal Reserve held interest rates unchanged for the fifth time in a row this July, but three regional Fed presidents pushed for hikes to fight stubborn inflation, the biggest disagreement in 10 years.
Meanwhile, higher oil prices (thanks to Middle East tensions and a failed U.S.-Iran peace deal) are making everything costlier.
Jobs up 92,000 monthly, midterm concerns
The job market is picking up with an average of 92,000 new jobs each month this year, a big improvement from last year's sluggish hiring.
Still, ongoing inflation and rising energy costs have people concerned ahead of November's midterm elections, where these issues could decide who controls Congress.