The Monday Mix: Aug. 22 – 28, 2022
— U.S. GDP fell by 0.6% in the second quarter, a much smaller decline than the original -1.2% estimate.
— The Federal Reserve will continue to raise interest rates aggressively to combat inflation, with no rate cuts likely next year.
— Personal Consumption Expenditures (PCE), the Federal Reserve’s preferred gauge of inflation, fell by 0.1% in July.
— China cut interest rates and announced $146 billion in new fiscal spending, in effort to stimulate slowing economy.
— Washington State will join California in banning sales of new petroleum-fueled vehicles by 2035.
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