U.S. economic growth slowed more than expected in the first quarter, but a surprisingly hot quarterly Personal Consumption Expenditure inflation component suggested that the Federal Reserve would not cut interest rates before September.
Gross domestic product increased at a 1.6% annualized rate last quarter, the Commerce Department said in its advance estimate on Thursday.…

#federalreserve#commercedepartment#pce#annexwealth#menomoneefalls#feds