Friday, September 30, 2022
Inflation remains incredibly high and continues to increase while the Federal Reserve continues to aggressively wrestle it back down to their 2% target. In the past month alone, interest rates were increased by another 75 basis points, and additional hikes are expected over the next few months and into the new year. As a result, employment is expected to take a major hit with millions of people losing their jobs and recession fears surging. Supply chain issues caused by the pandemic, invasion of Ukraine, and now Hurricane Ian persist, and are a further hinderance to fighting inflation. A hint of good news is that oil prices, however, are easing and ended the month at $79/barrel.
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