⁍ ‘It’s going to be somewhat of a bumpy road,’ Philadelphia Federal Reserve president Patrick Harker said.

---

⁍ Harker said he is accounting for another $1 trillion in fiscal stimulus in his economic forecast.

---

– The US economy is expected to grow at a slower pace in the second half of this year than it did in the first. The economy grew at a 2.5% annual rate in the April-June quarter, the Commerce Department said today, the slowest pace in three years. Economists had expected growth of 2.9%. The AP notes that the figure is a bit lower than the 2.9% the Fed had predicted in June. The Philly Fed’s president, meanwhile, warned that the recovery will be “somewhat of a bumpy road” because of the flu. “We’ve really got to get the virus under control because that is driving everything,” Patrick Harker told Reuters.