The US economy grew more slowly in the second quarter than previously estimated — a good sign for the Federal Reserve, which is attempting to cool demand to bring down price increases.

Gross domestic product, the broadest measure of economic output, rose at an annualized rate of 2.1% in the second quarter, according to the Commerce Department's second estimate, released Wednesday morning. That's a slightly slower pace than the 2.4% the department initially estimated.

This story is developing and will be updated.