• U.S. economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.
• Gross domestic product increased at a 1.6% annualized rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its advance estimate of first-quarter GDP on Thursday. Growth was largely supported by consumer spending.

https://www.reuters.com/markets/us/us-economic-growth-slows-more-than-expected-first-quarter-2024-04-25/