Inflation remained above the central bank’s 2% target at a time when Americans are frustrated about the high cost of living ahead of the midterm elections, now less than 100 days away.

Persistent inflation concerns are expected to push the central bank toward an interest rate hike.

The U.S. economy grew at an annual rate of 1.5% in the spring, according to the Commerce Department. That's a modest slowdown from the previous quarter — but consumer spending…

The US economy expanded at a slower 1.5% pace in the second quarter. Strong consumer spending and AI infrastructure investment supported overall economic activity. Imports surged,…