Friday’s figures from the Commerce Department underscored the persistence of the inflation that is eroding Americans’ purchasing power.
because surging inflation has forced consumers to reduce their purchases of electronics appliances.
for a second straight quarter, intensifying fears that a recession is looming. Two quarters of declining growth meet an informal rule of thumb for when a recession begins, although robust hiring suggests that the economy still maintains pockets of strength and isn’t yet in a downturn.for a second straight time in its most aggressive drive in more than three decades to tame high inflation. Powell signaled that the Fed could raise rates by smaller increments in the coming months.
. Europe’s economy has been hit particularly hard by higher natural gas and oil prices stemming from Russia’s invasion of Ukraine, though it managed to grow slightly in the second quarter.
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