Massachusetts Second Mortgage
U.S. Second-Quarter Gross Domestic Product Grew at 2.5% Rate
July 28 (Bloomberg) -- The U.S. economy grew at a 2.5 percent annual pace from April through June, less than expected, as business investment in equipment fell for the first time in three years and consumers reined in spending.
The government's first estimate of the quarter's gross domestic product, the value of all goods and services produced in the U.S., compares with a 5.6 percent gain in the first three months of the year, the Commerce Department reported today in Washington. A measure of core inflation accelerated.
Rising energy prices and higher borrowing costs will continue to restrain economic growth into next year, economists said. Slower growth will likely mean an end to two years of interest-rate increases by Federal Reserve policy makers, who predict an easing of inflationary pressures.
Related Massachusetts Second Mortgage links
On attack with class warfare
HORRORS. Deval Patrick once belonged to an exclusive all-male club at Harvard. He owns a big vacation house in the Berkshires. He served on corporate boards for companies that put profit ahead of consumers and union workers.
Why should any of that derail Patrick's bid to become the next governor? He is no different from others who made the same choices -- except for the humbleness of his roots and the color of his skin.
Senator Edward M. Kennedy just this year resigned his membership in Harvard's all-male Owl Club -- and only after he was criticized for taking then-Supreme Court nominee Samuel A. Alito Jr. to task for belonging to a controversial Princeton alumni organization.
Plenty of Massachusetts politicians -- Democrats and Republicans -- own vacation homes.