The country's GDP picked up between April and June: report
Progress against accelerating prices has been slowed by stickier-than-expected inflation for services
The Fed likely won’t wait until inflation reaches its 2% target before cutting rates, Powell tells House panel
Employers added 206,000 jobs in a sign of continued economic strength
The U.S. economy, job market have been resilient in the face of the Fed's campaign to raise interest rates to rein in inflation
Recorded pace was slowest quarterly growth since spring 2022
Weekly unemployment claims — a proxy for layoffs — remain at low levels by historical standards
Strength of U.S. economy will support global growth of 2.6% this year
Consumer spending also rose in the last quarter, but at a slower pace than previously thought
Median price of previously occupied homes rose 5.7% to $407,600 — the tenth straight increase and a record for April