Inflation and Interest Rate Hikes Cornering Many U.S. Households

Inflation and Interest Rate Hikes , Cornering Many U.S. Households.
On May 9, inflation data is expected
to strike a familiar note with people
living in the United States. .
NBC reports the data is expected to show that people in
the U.S. are feeling cornered by the increased cost
of goods and services amid the current economy.
According to the Labor Department,
March saw an annual increase in prices of 5%. .
NBC reports that Wall Street analysts
expect another 5% increase in April.
We’re in a robust
demand environment, Neil Dutta, Head of economic research
at Renaissance Macro Research group, via NBC.
And one reason for that is that
labor markets are very tight, Neil Dutta, Head of economic research
at Renaissance Macro Research group, via NBC.
NBC reports that recent job data shows that
the U.S. unemployment rate has dropped
back to a post-pandemic low of 3.4%.
Meanwhile, 10 straight interest rate hikes by
the Federal Reserve has brought key federal
funding rates to the highest level in over 15 years. .
Last week, while speaking at the central bank's
summer meeting, Fed Chair Jerome Powell
failed to rule out continued rate hikes in 2023.
Last week, while speaking at the central bank's
summer meeting, Fed Chair Jerome Powell
failed to rule out continued rate hikes in 2023.
Between the spikes in gasoline,
food and shelter prices, there has
been no shortage of sources of
aggravation associated with
inflation for many months now, Neil Dutta, Head of economic research
at Renaissance Macro Research group, via NBC.
Between the spikes in gasoline,
food and shelter prices, there has
been no shortage of sources of
aggravation associated with
inflation for many months now, Neil Dutta, Head of economic research
at Renaissance Macro Research group, via NBC