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Economy Slows as Fed Holds Rates | Raleigh News
The U.S. economy lost 23,000 jobs in July after a strong June gain, while unemployment dipped slightly to 4.1%—still historically low. Despite disruptions from soaring gas prices and supply chain woes, the job market’s recent slowdown hints at growing economic pressure, compounded by renewed overseas conflict that pushed inflation to a three-year high. The Fed held rates steady but saw internal division, with three members voting to raise them—the most dissent since 2016—raising concerns about slowing growth. Fed Chair Kevin Warsh remains focused on taming inflation, emphasizing price…
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