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Activity will shrink next year but only by about 0.56% so much shallower and shorter recession than they previously forecast but nevertheless some critics might say, why are you raising interest rates which makes life harder for households and gives them less money to spend when we are heading for recession? they are worried that inflationary pressure which had been imported so farfrom gas prices is becoming embedded domestically in the price of services which has gone up by more than they expected, so they are worried that wage rises are reflecting expectations that inflation will stay high and that could become a self fulfilling prophecy so they want to take the heat out of the economy and some of the upward pressure on prices. interest rates are going to go up a bit more but then tail off? this is interesting because when the truss government was around the market said interest rates might get up to 6.5% and that looked really bad for fixed rate mortgages. you still have 1.8 million ....
Activity will shrink next year but only by about 0.56% so much shallower and shorter recession than they previously forecast but nevertheless some critics might say, why are you raising interest rates which makes life harderfor households and gives them less money to spend when we are heading for recession? they are worried that inflationary pressure which had been imported so far from gas prices inflationary pressure which had been imported so farfrom gas prices is becoming embedded domestically in the price of services which has gone up the price of services which has gone up by the price of services which has gone up by more than they expected, so they are worried that wage rises are reflecting expectations that inflation will stay high and that could become a self fulfilling prophecy so they want to take the heat out of the economy and the pressure on prices. heat out of the economy and the pressure on prices. interest rates are auoin pressure on prices. interest rates are going t ....
What the heck is going on with this economy, what should our leaders be doing about it, and how fearful should we be we don t know what bottom looks like it? let s start with the numbers. it s no surprise to anyone who s been at a gas station or grocery store you are paying more for essentials, meat, eggs, fuel. does rising costs are inescapable to anyone right now in america. aaa said the average price of a gallon of gas right now in the united states is $4.42 for regular, $5.56 for diesel. both the record highs. northeastern pennsylvania, diesel is 6.50. it is all up 40 and 50%, $0.56 here it it puts a pinch on everything. adding to the pain out there, there is a severe baby formula short hitting the country right now with shelves and see in store spirit that is more about how those companies manage their supply, more so than it is anything else, but it only adds to the consternation people feel right now about the economy. they are expected to announce some action on the baby formul ....