Accommodating policy definition
The initial estimate of real GDP growth in the second quarter of 2018 came in at 4.1% at an annual rate, resulting in a growth rate of 2.8% over the past four quarters.
For 2018 as a whole, we expect growth to come in just under 3%, well above our estimate of the economy’s long-run sustainable growth rate.
The unemployment rate edged down to 3.9% from 4% in June.
Over the past year, the average monthly gain was 203,000 jobs.Interest rates have continued to increase with the ongoing monetary policy normalization.