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
The U.S. central bank has also unveiled plan to reduce bond holdings later this year
Yellen highlights global threats that could hamper growth in report to Congress
Economy showing signs of a rebound following greater-than-expected first quarter decline
Beige Book survey finds “modest to moderate” improvement