Jul 28, 2017

GDP growth accelerates in second quarter

Alan Diaz/AP

GDP growth increased to 2.6% in the second quarter, faster than the first quarter's rate of 1.2%, and in line with economists expectations, according to the Commerce Department. Nevertheless, growth for the year so far has been a lackluster 1.9% annualized, below the average 2.2% growth rate since the end of the recession.

Why it matters: Investors have bid up stocks to all-time highs based on faster growth abroad and confidence in the Trump administration's anti-regulation stance. But this confidence isn't reflected in a sustained increased in GDP growth, at least not yet.

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Orion Rummler

9 mins ago - Politics & Policy

Minnesota files civil rights charge against police over George Floyd's killing

Police spray protesters with pepper spray during a demonstration outside the Third Police Precinct on Wednesday in Minneapolis, Minnesota. Photo: Kerem Yucel/AFP via Getty Images

The Minnesota Department of Human Rights (MDHR) announced an investigation on Tuesday into the conduct of the Minneapolis Police Department over the past decade, alongside a civil rights charge into the killing of George Floyd.

The big picture: Complaints of excessive force brought against the city's law enforcement officers "have become commonplace, especially by African-American residents," the New York Times reports.

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Ursula Perano

18 mins ago - Politics & Policy

GOP split over Trump's St. John's photo op

Sen. Tim Scott. Photo: Andrew Harnik - Pool/Getty Images

Republican lawmakers are weighing in on President Trump's decision to tear gas and physically clear peaceful protestors from outside the White House on Monday in order to stand in front of the historic St. John's Episcopal Church for a photo op.

The state of play: While some Republicans are backing the president's actions and condemning protestors, others are lamenting the decision and calling for improvement.

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Marisa Fernandez

2 hours ago - Politics & Policy

Cuomo: The NYPD and NYC mayor did not do their job Monday night

New York Gov. Andrew Cuomo criticized Mayor Bill de Blasio and the New York Police Department Tuesday, calling their lack of protection for people and personal property "a disgrace."

The big picture: New York City is on its seventh day of protests for George Floyd's death and overall law enforcement killings, with massive crowds day and night. The city was one of the worst affected in the U.S. for looting, including Macy's flagship store and Fifth Avenue in Manhattan.

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