Economic Growth Stalls

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U.S. economic growth slowed in the first quarter on the heels of Ben Bernanke’s announcement Thursday. The latest GDP report revealed that The GDP expanded at a 2.2 percent annual rate, according to the Commerce Department, disappointing economists’ expectations for a 2.5 percent rate. Though the economy has been growing at a snail’s pace since the second half of 2009, the report sent mixed signals: businesses cut back on investments and unemployment rates are soaring, but a surge in consumer spending softened those blow. Stocks saw their best day in 2012 Thursday, and the Fed decided not to continue efforts to spur growth for now.