Even with the relatively strong pace of growth last quarter, most economists expect expansion to settle back to near its long-run rate, and some have flagged the risk of a recession in two years.
The Fed last month estimated that the US economy would grow at 2.8 percent this year, still below the Trump administration's target of over 3 percent of annual growth rate. "I think the numbers are going to be outstanding".
Meanwhile, private investment actually fell over the second quarter - a development that contradicts the GOP's economic promises. He said somebody had predicted 5.3% growth, which he didn't think would happen, but he'd be happy with anything over around 3.7%.
However, the Council of Economic Advisers Chairman Kevin Hassett said recent growth set the stage for a stronger economy in the second half of the year.
Along with its snapshot of second-quarter GDP growth, the report will likely include a revision of the first quarter's growth estimate of a 2.0 percent rate as the government will also publish comprehensive revisions to prior GDP data. The jump in the latest period was paced by consumer spending, which rebounded to a 4.0% pace in the second quarter from the first quarter's weak 0.5% pace. Consumers began spending their higher take-home pay on autos and other big-ticket items, spurred by the $1.5 trillion tax cut Trump pushed through Congress in December.
The trade dispute with China, for example, prompted buyers to rush purchases of US soybeans before Chinese retaliatory tariffs raised costs for that key market for America's largest agricultural export, according to Bankrate.com analyst Mark Hamrick.
Yes, the US economy grew in the second quarter of this year, but I am skeptical going forward.
Trump also touted a decrease in the USA trade deficit in the most recent quarter, calling it "one of the biggest wins".
Gross domestic product probably increased at a 4.1 percent annualised rate, also as business stockpiled inventory ahead of the impending import duties, according to a Reuters survey of economists. There was also that rise in consumer spending, presumably attributable to the tax cut. The result was boosted by a budget deal at the beginning of this year that added billions to defense and domestic spending. But housing, which has struggled this year, shrank at a 1.1 percent annual rate after an even sharper 3.4 percent annual decline in the first quarter.
Today's Q2 GDP data showed that the economy expanded at a 4.1% rate.
The median projection of Fed policymakers for GDP, revised in June, sees the economy expanding 2.8 per cent this year, then easing to 2.4 per cent in 2019 and 2.0 per cent in 2020. With a healthy tailwind coloring expectations, the next round of numbers will be closely read for clues about how the year's second half will compare, starting with next week's main event for economic releases: payrolls for July (scheduled for Friday, August 3).
Outside of the GDP numbers, the economic schedule will also bring investors the final reading on consumer sentiment in July from the University of MI.
Leonard, who missed nearly all of last season with a quad injury, reportedly passed his physical, and is Toronto-bound. He is a two-time NBA Defensive Player of the Year and the 2014 NBA Finals MVP. "I don't know how you can hate him".
Host Stephanie Ruhle said in response to Maddow's accusations against the White House that "we ALL deserve better than THIS". Trump has noted a range of topics he discussed with Putin, including Ukraine, but given no details of the talks.
The rampage came just three months after a van struck and killed 10 people in Toronto in an apparent attack directed toward women. Hussain fired multiple shots along the Danforth on Sunday night, killing 18-year-old Reese Fallon as well as a 10-year-old girl.
As this moves out, and with the loss of daytime heating, any stray shower would end in the evening, then the skies will clear out. Scattered showers will be around for the morning commute and pick up in intensity later this afternoon.
Putin said on Friday that he has already invited Trump to Moscow, and that he is "ready to come to Washington" to meet with Trump. Putin said Friday, "I understand very well what President Trump said: He has the wish to conduct further meetings".
More than 19 million new voters, including millions of women and young people, may prove decisive in the close race. The campaign has been surrounded by concerns the military had been meddling in the election to favour Mr Khan.
Rescue workers move the body of Ikramullah Gandapur, who was killed in the suicide bombing in Dera Ismail Khan on Sunday, July 22. After the results, 27 winning independent candidates joined Sharif's party to give it a majority.
Still, some GOP lawmakers said they would draw the line at impeachment. "There is absolutely no basis to impeach Rod Rosenstein". Meadows heads the conservative Freedom Caucus and has sparred with Ryan on issues such as immigration and federal spending.
The eclipse will be the longest in the 21st Century, starting at 10.44 pm and ending over six hours later, at 4.58 am on Saturday. Generally, there are three lunar eclipses occurring in any given location per year, though some years there can be none.
She doesn't know how to communicate with him, because he's afraid that he's using their communication for their own purposes. However, for all the praise she has been receiving, Meghan has also attracted a fair amount of scorn from royal commenters.
17 missing as monster wildfire spreads
Fire officials warned that the blaze would probably burn deeper into urban areas before there was any hope of containing it. More than 3,000 fire personnel are battling the flames with more than 300 engines and 17 helicopters, Cal Fire reported.
Tour de France Stage 18 Preview: Trie-Sur-Baïse To Pau
British sprinters Dan McLay (EF-Drapac), Ben Swift (UAE Team Emirates) and Chris Lawless ( Team Sky ) will also race. But his day went from bad to worse when he was making his way back down from the summit finish of the Col du Portet.
Priyanka Chopra sends her prayers for singer Demi Lovato
In March - just three months before releasing " Sober " - Lovato revealed that she had celebrated six years of sobriety. Former Fifth Harmony member Camilla Cabello tweeted: "You're in my thoughts @ ddlovato , sending you love".