Consumers spending more, inflation trending lower

The government has released its most recent gross domestic product update. The economy expanded by an annualized pace of 2.8% in the second quarter, consumers are spending more than expected, and the inflation rate is trending lower.

Many are hoping that the Federal Reserve will start providing relief to American borrowers, though they are not expected to act on this at their upcoming July policy meeting, which runs from July 30 to 31.

Jill Schlesinger of “Jill on Money” joins host Anthony Brooks to discuss this update.

This article was originally published on WBUR.org.