US economy grows sluggish 1.5% in second quarter as inflation tops Fed target

Consumer spending remained resilient even as policymakers kept interest rates on hold The US economy expanded at a sluggish 1.5% pace from April through June as rising imports weighed on growth. But consumer spending rose. And the Federal Reserve’s favored measure of inflation grew more slowly last month, but remained above the central bank’s 2% target. The commerce department reported Thursday that growth in US gross domestic product (GDP) – the nation’s output of goods and services –…