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Economy Grows Amid Inflation and Geopolitical Risks | Salt Lake City News
The U.S. economy’s rebound is showing real momentum—with 1.5% growth in Q2, fueled by strong consumer spending and AI-driven business investment—but clouds are gathering. Job gains are surging, unemployment steady at 4.2%, and layoffs minimal, now spreading beyond healthcare and education. Yet, inflation’s grip lingers, threatened by renewed Iran tensions that’ve spiked gas prices back over $4/gallon and could destabilize global oil flows through the Strait of Hormuz. The Fed held rates steady this week, but three officials pushed for hikes, signaling rising alarm. Compounding the pressure…
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