WS #13092
US Q2 GDP grew at 1.5% annualized pace, below 2.1% in Q1 and below expectations, but consumer spending rose 3.2% and core inflation remained above 2%, reinforcing Fed's cautious stance. US Treasury Secretary Bessent said yen 'seems very undervalued' and suggested Japan may have intervened in FX markets on Thursday, potentially impacting USD/JPY and Japanese equities.
US Q2 GDP Misses, Consumer Spending Strong
US Q2 GDP grew at 1.5% annualized pace, below 2.1% in Q1 and below expectations, but consumer spending rose 3.2% and core inflation remained above 2%, reinforcing Fed's cautious stance.
US Treasury Secretary Bessent said yen 'seems very undervalued' and suggested Japan may have intervened in FX markets on Thursday, potentially impacting USD/JPY and Japanese equities.