It’s The Economy Stupid.

Robert Massimi.

For all those who think it is going to be a blue wave, think again. The economy is roaring, most business leaders think that the economy will stay strong. With minorities of all kinds reaping the benefits, I highly doubt that people are going to vote to hurt this great movement. People can talk all they want about issues but the only issue is the strong economy. People vote their wallets, always.

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The US economy grew at a 3.5% pace in the third quarter, faster than expected

James O'Neal attaches a fender in the body shop at GM's Chevrolet Silverado and GMC Sierra pickup truck plant in Fort Wayne, Indiana, July 25, 2018. 

John Gress | Reuters
James O’Neal attaches a fender in the body shop at GM’s Chevrolet Silverado and GMC Sierra pickup truck plant in Fort Wayne, Indiana, July 25, 2018.

The U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check, according to data released by the Commerce Department on Friday.

Gross domestic product expanded by a 3.5 percent annual rate. Economists polled by Dow Jones expected the economy to expand by a 3.4 percent annual rate.

The department said the PCE price index, a key measure of inflation, increased by 1.6 percent last quarter, much less than the 2.2 percent increase expected by economists polled by StreetAccount.

While stronger than expected, it was a slower pace of growth than in the previous quarter. Gross domestic product grew by 4.2 percent in the second quarter, marking the fastest quarterly expansion since the third quarter of 2014. The economy increased by 2.2 percent annual pace in the first quarter of the year.

The report comes amid growing concerns about rising interest rates slowing the economy. China and the U.S. have slapped tariffs on billions of dollars worth of goods this year, increasing fears that tighter trading conditions will slow down the global economy and eventually hit things here in the U.S.

U.S. equities have taken a beating this month into the report, with the S&P 500 falling more than 7 percent in October through Thursday’s close.

This is breaking news. Please check back for updates.

Watch: Trump’s economy: Here’s where he gets credit, and what could go wrong

Trump's economy: Here’s where he gets credit, and what could go wrong

Trump’s economy: Here’s where he gets credit, and what could go wrong  

Trump’s economy: Here’s where he gets credit, and what could go wrong

CNBC’s Jeff Cox looks at seven measures of how the U.S. economy is doing, and how much credit President Donald Trump deserves.

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Author: nobullwithragingrobert

Was a drama critic at Manhattan College. Wrote professionally for Bergen News, Sun Bulletin . Alpha Sigma Lambda, Beta Theta. Has seen over 600 shows worldwide, has published both on Theater and Politics. Avid reader on many subjects and writers. Chief Drama critic for Metropolitan magazine. Writes for Jerrick media, American conservative, The City Journal and Reason magazine. Has produced shows both on and off Broadway.

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