Note: The Evening will be “gone fishin'” until early September. Enjoy the rest of the summer!

U.S. Economic Growth Accelerates, Defying Slowdown Expectations

Faster economic growth this spring raises the prospect of a longer post-pandemic expansion despite the Federal Reserve pushing interest rates to a two-decade high. Gross domestic product grew at a seasonally- and inflation-adjusted 2.4% annual rate in the second quarter, the Commerce Department said Thursday. That was faster than economists expected and above the 2% growth in the first three months of the year, as the WSJ reports.

Ukraine Pushes South, but Faces Obstacles in Counteroffensive

The goal of Ukraine’s counteroffensive in the south is straightforward: reach the Sea of Azov and drive a wedge through Russian-occupied territory. But the execution has proved difficult: Ukraine’s forces must punch through dense minefields, tank traps and other obstacles, under withering air assaults and artillery bombardments, across multiple Russian defensive lines, and then push some 60 miles to the sea, as the NYT reports.

Putin Pledges Grain for Africa

Russian President Vladimir Putin, who is seeking to boost ties with African leaders at a St. Petersburg summit, told his visitors that Russia could replace Ukrainian grain, “both on a commercial basis and free of charge to the most needy countries in Africa.” The pledge comes as the Kremlin’s withdrawal from the Black Sea grain deal this month continues to block the flow of Ukrainian grain exports to the world, raising fears for food supplies to vulnerable countries, including in Africa, as The Washington Post reports.

Executive Education

Mapping the U.S. DOD Acquisition Ecosystem offers a deep dive into the defense acquisition process and the defense industrial base with an overview of acquisition and timely topics such as export controls, inflation, industrial base competition, rare earth elements, and data rights.

Audio Briefs

CSIS experts give short, spoken-word summaries on the biggest takeaways from their latest reports, white papers and commentaries—in their own words.

Listen here: "What Else is Needed to Address Global Water Insecurity?" with CSIS's Caitlin Welsh

In That Number

2.4 percent

The U.S. economy grew 2.4 percent between April and June, according to preliminary figures released by the commerce department on Thursday. That marked a rebound from a 2 percent growth rate in the first quarter, and was well above the 1.8 percent rate predicted by economists.

Source: Financial Times

Critical Quote

“We confirm that hostilities have intensified and in a significant way.”

—Vladimir Putin

iDeas Lab

Last week, Deputy CDAO Margie Palmieri joined CSIS for a discussion on the challenges DoD faces in acquiring and scaling AI-enabled solutions. Watch the ReCap here.

The Andreas C. Dracopoulos iDeas Lab at CSIS enhances our research with the latest in cutting-edge web technologies, design, and multimedia.

Optics

(Photo credit: AFP/Getty Images.) Supporters of the Nigerien defense and security forces gather during a demonstration outside the national assembly in Niamey on July 27, 2023.

This Town Next Week

On Tuesday, at 2:00 p.m., the CSIS Australia Chair hosts author Bethany Allen-Ebrahimian for a discussion on her new book, Beijing Rules: How China Weaponized Its Economy to Confront the World.

On Friday, at 10:00 a.m., the CSIS International Security Program holds a conversation with General Laura J. Richardson on secuerity challenges in Latin America.

And, on Monday at 9:00 a.m., Brookings discusses the global economy and its projected growth.

Video

Today, the CSIS Korea Chair hosted a live podcast on last week's events: the U.S. soldier who crossed into North Korea, North Korea's short-range ballistic missile tests, and the newly formed NCG between the United States and South Korea. Watch the full video here.

Podcasts

CSIS’s Caitlin Welsh and New York Times climate reporter Christopher Flavelle join the podcast to discuss water stress playing out across the United States, and potential solutions.

Listen on Spotify & Apple Podcasts.

Smiles

There may be nothing more “rock and roll” than this clip of Blondie performing the T-Rex classic “Bang A Gong” in ’79.

I invite you to email me at [email protected] and follow me on Twitter @handrewschwartz

The Evening is my daily guide to key insights CSIS brings to the events of the day. It is composed with the External Relations team: Paige Montfort, Claire Dannenbaum, and Ava Rose.