Q2 GDP Revised Up to 2.2%, Nearly Double the First Read of 1.5%, as PCE Inflation Holds at 3.4%

GDP was revised up to 2.2% for Q2, nearly double the first read of 1.5%. Underlying demand grew 4.6%. The author says this is a solid economy.
PCE inflation is still running at 3.4%, stuck 70% above the Fed's 2% target four years after the 2022 spike. The author says it is stuck there because the money supply is at a record and the Fed keeps easing, not because of tariffs or a gas bill.
So the Fed is cutting rates into 2.2% growth and 3.4% inflation. The author says debasement does not get more obvious than that, and calls it the tailwind that keeps gold and stocks grinding higher.