Gross domestic product (GDP)

Q3 GDP expected above 2% after hot retail sales report

Data: Federal Reserve Bank of Atlanta; Chart: Andrew Witherspoon/Axios

The Atlanta Fed raised its GDPNow forecast to 2.2% for the third quarter — higher than many economists are predicting, but well below enough to bring 2019's growth to the 3%-4% President Trump has sought.

Why it matters: The bump came after U.S. retail sales surged above expectations in July and sales at retailers including Amazon and Best Buy posted their biggest increase in 4 months. A strong earnings report from Walmart also helped drive optimism that American consumers are still shopping and perhaps are confident enough to carry the economy through trade war tensions.

Go deeper: Store closures don't mean retail is dead

The U.S. doesn't spend less on social care than other developed countries

A new Health Affairs study throws cold water on the idea that the U.S. spends so much more on health care than other countries because we spend less on other social services.

The big picture: Some policymakers and researchers say that the underinvestment in social services has led to a less healthy population, and point to the low U.S. ratio of social-to-health spending.