The Daily Signal Q2 GDP Growth Surges, Powell Fights to Keep Interest Rates High, Pelosi Yells at Tapper | July 31, 2025
Jul 31, 2025
Quarter 2 GDP data surges to 3%, igniting cheers from Trump's camp and outrage from Schumer. Fed Chairman Jerome Powell stands firm on keeping interest rates high, despite internal pushback. Meanwhile, Nancy Pelosi loses her cool over accusations of insider trading, sparking debates on ethical practices within Congress. The episode dives deep into the political ramifications of these financial trends and the implications for public trust.
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Strong Q2 GDP Growth with Low Inflation
- The U.S. GDP grew 3% annualized in Q2 2025, beating expectations and rebounding from a Q1 decline.
- Inflation cooled with the GDP price index rising just 2.1%, marking Fed's target achievement.
Schumer Critiques GDP as Mirage
- Senator Chuck Schumer called the strong GDP numbers a "mirage" citing a 3.1% plunge in business investment.
- Schumer links Trump's tariffs to economic worries about future growth and job creation.
Powell Maintains Rates Amid Tariff Risks
- Fed Chairman Jerome Powell kept interest rates steady to handle potential inflation from future tariff impacts.
- Two Fed governors dissented in favor of cutting rates; dissent unseen since 1993.