U.S. Gross Domestic Product for the second quarter was revised lower, to 1.6%, by the Bureau of Economic Analysis in its second estimate. The advance second quarter estimate of GDP, released last month, indicatd 2.4% growth.
Almost two years after the economic meltdown of 2008, the Federal Reserve has kept interest rates near zero and experts expect no change until early 2011. Economic recovery has been slow, but the markets may not wait for the Fed to move rates.