US economy grows faster-than-expected
The strong economic reading right before next week’s midterm elections is unlikely to cheer Americans worried about rising inflation, analysts said. The US economy grew faster-than-expected this summer, new data showed, but the strong economic reading right before next week’s midterm elections is unlikely to cheer Americans worried about rising inflation, analysts said. “ Voters don’t vote on GDP,” a Republican strategist told Bloomberg; many are still struggling with surging gas prices that have driven down US President Donald Trump’s approval rating to new lows. More consumers are spending more than they bring in, Navy Federal Credit Union’s chief economist wrote: “There’s clearly strain on a lot of Americans.” Though oil prices retreated this week as Washington and Tehran pursued tentative diplomacy, refining capacity remains limited, and the White House has signaled it could resume strikes on Iran after midterms.
The strong economic reading right before next week’s midterm elections is unlikely to cheer Americans worried about rising inflation, analysts said. The US economy grew faster-than-expected this summer, new data showed, but the strong economic reading right before next week’s midterm elections is unlikely to cheer Americans worried about rising inflation, analysts said. “ Voters don’t vote on GDP,” a Republican strategist told Bloomberg; many are still struggling with surging gas prices that have driven down US President Donald Trump’s approval rating to new lows.
More consumers are spending more than they bring in, Navy Federal Credit Union’s chief economist wrote: “There’s clearly strain on a lot of Americans.” Though oil prices retreated this week as Washington and Tehran pursued tentative diplomacy, refining capacity remains limited, and the White House has signaled it could resume strikes on Iran after midterms.