The unexpected decline was influenced by weaker sales at gas stations
Powell may face challenges on future moves
But home prices rose at a slower pace in May
The president announced his planned nominations in a tweet on Tuesday
Jump suggests economy had solid momentum going into the April-June quarter
The world's two biggest economies have slapped tariffs on $350 billion worth of each other's products
Private economists expect the next interest rate hike to occur at the September meeting
The change would involve taxing capital gains after taking inflation into account, which would lower the tax bite for wealthy Americans
Lacklustre 2% expansion for first quarter is the poorest showing in a year, but economists expect a rebound
The improvement from 1.2% annual growth in Q1 was powered by a robust recovery in consumer spending after a winter slowdown