Are you looking to stay ahead of the economic changes ahead? In this blog I will cover key points taken away from the Federal Reserve. The Federal Open Market Committee increased rates by .50%.
What does this mean and why is this important? Financing instruments such as credit cards, car loans and other loan products will cost more to carry. On top of the recent rate hikes, the Federal reserve is expected to hike rates even higher in the near future. My suggestion is to eliminate debt as soon as possible if you'd like to avoid "a leaky purse". (Richest Man in Babylon)
The Federal reserve reported that import and exports will likely lessen in the future. To my understanding this will only add to the supply chain slowing down. I wonder to what extent products like gas, vehicles and cost of materials will be affected?
Why is this important? Lower supply can often lead to items costing more. Other economic news shows that jobs have increased towards 1.7 million. Wages are reported to be rising fast and the price consumer index (consumption) is up 5%. The good news is we are living in a time period where unemployment is near a 50 year low.
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