The U.S. economy grew at a 2.8% annualized rate in the third quarter, slightly below expectations, driven by strong consumer spending and a significant increase in federal government outlays. Personal consumption expenditures rose 3.7%, while inflation remained below the Federal Reserve's target, prompting expectations for further interest rate cuts. Despite ongoing economic growth, concerns about inflation persist as the presidential race heats up between Kamala Harris and Donald Trump.
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