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Economy Slows Amid Middle East Tensions | Oakland News
The U.S. economy slowed to a 1.5% GDP growth in Q2, missing forecasts of 2.1%—a worrying sign that Middle East tensions are hitting growth through shipping disruptions and soaring energy costs. Gas prices surged, squeezing household budgets, yet consumer spending held firm thanks to a strong job market and AI-driven investment. Meanwhile, inflation cooled slightly in June, offering the Fed cautious optimism and possibly delaying rate hikes—but core inflation remains above target, sparking internal debate and forecasts of a prolonged high-inflation period before a sustainable decline next…
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