U.S. Economy Grew At 2% Rate In Q3, Consumers Step Up

The US economy grew 2% in the 3rd quarter, which was up from 1.7% in the 2nd. However, because the unemployment rate is still 9.6%, the Fed is feeling pressure to help boost the economy. Consumer spending rose the fastest this past quarter than it has in the past 4 years. It grew at a rate of 2.6% which added 1.8% to the US GDP. It is expected that the Fed will attempt to jump-start the economy, create jobs and boost inflation, which, as reported by the Fed, is running low.