US GDP growth slows to 1.5% in second quarter

The US economy grew at an annualized rate of 1.5% in the second quarter, down from 2.1% in the first quarter, as a widening trade deficit and tensions with Iran weighed on growth. Consumer spending rose 3.2% driven by tax refunds and higher fuel prices. The Federal Reserve held interest rates steady at 3.5-3.75% amid mixed inflation signals.