The Federal Reserve has recently increased interest rates by 0.25 percentage points, from 5.25 to 5.5 %; highest level in more than 22 years. However, economists at JPMorgan predict a recession due to credit tightening from high interest rates which benefits high-yield savers and CD holders (the rich). Mortgage demand has dropped, and home prices are falling. Jobless claims have fallen, […]
Economic News: Federal Reserve Hikes Interest Rates Amidst Looming Recession
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