The US economy grew at a much higher rate than expected in the 2nd quarter, which is the opposite of the doom and gloom predicted by Democrats when President Trump began his new tariff policy.

According to CNBC, the economy grew at 3% when it was estimated to only grow at 2.3%. They also say this reverses a 0.5% decline in the first quarter:

The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday.

Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to figures adjusted for seasonality and inflation.

That topped the Dow Jones estimate for 2.3% and helped reverse a decline of 0.5% for the first quarter that came largely due to a huge drop in imports, which subtract from the total, as well as weak consumer spending amid tariff concerns.

Financial markets reacted little to the report, with stock index futures mixed and Treasury yields higher.

“The word of the summer for the economy is ‘resilient,’” said Heather Long, chief economist at Navy Federal Credit Union. “The consumer is hanging in there, but still on edge until the trade deals are done.”

The period reported Wednesday includes President Donald Trump’s April 2 “liberation day” tariff announcement. Imports had jumped in the first quarter as companies sought to get ahead of the announcement.

The GDP tally showed strength across key areas of the economy, as well as evidence that inflation is ebbing though not eradicated.

President Trump is very happy about the news and used it to pressure Jerome Powell to cut interest rates:

<center.