On July 25, institutional analysis believed that the U.S. economy grew faster than expected in the second quarter, but inflation fell back, and the Fed's expectations of a rate cut in September were not affected. The second-quarter GDP data released by the United States on Thursday grew by 2.8%. Economists surveyed by Reuters had predicted that GDP would grow at a rate of 2.0%. The growth rate is expected to be between 1.1% and 3.4%. Despite the Fed's sharp interest rate hikes in 2022 and 2023, the U.S. economy is still outperforming its global peers. Although the unemployment rate has risen to a two-and-a-half-year high of 4.1%, the U.S. economy is still supported by the resilience of the labor market. Core PCE grew 2.9% in the second quarter after surging 3.7% in the first quarter, which is good news for the Fed next week. (Jinshi)