RELATED: US economy shrinks for a second straight quarter, raising recession fearAmong investors, however, attention focused on what comes next. Depending on what this data reveals, Powell said rate hikes could be smaller in magnitude moving forward, as economic growth slows and recession risks rise. What’s happening: The first read of US gross domestic product for the second quarter arrived Thursday. Also today: The initial reading of US GDP for the second quarter arrives at 8:30 a.m. Coming tomorrow: Did Europe’s economy expand during the second quarter?

Source: CNN July 28, 2022 14:51 UTC