When previewing the key macroeconomic events of the coming week in the US, RBC Economics economists stated that they expect the initial estimate of the US Bureau of Economic Analysis. show that the US economy has expanded by 9.5% in the second quarter.
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“As the economic reopening proceeds, we expect US GDP to grow 9.5% in the second quarter, driven by exceptionally strong consumer spending for the quarter. We expect US personal income to decline. down 0.7% in June after a combined 14.8% drop in the previous two months as pandemic-related assistance continues to decline. “
“The Federal Reserve will likely maintain its policy rate at next week’s meeting. Markets will be on the lookout for any hints about plans to reduce its asset purchase program.”
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