(DCWatchDog.com) Get ready to pay more of your hard-earned dollars for just about anything and everything you purchase and consume on a daily basis. In some cases, a lot more.
Just moments ago, the Federal Reserve made it clear that it intends to raise interest rates on Americans and American businesses as early as next year. This rise in rates will come after numerous years of record-low interest rates for Americans.
The members of the Federal Reserve also announced after their two-day meeting that unemployment in the United States would remain high – even higher than they previously predicted- well into next year.
Further, the Fed predicted that economic growth would not be as robust as they’d predicted just months ago.
The Fed could raise interest rates as early as next year, the central bank said this afternoon. Monthly bond purchases could slow “soon,” too.https://t.co/yFzUVWSkHC
— Banker & Tradesman (@BankerTradesman) September 22, 2021
All in all, many economic analysts were dismayed with what the Fed announced today and warned Americans that there could be rough financial waters on the horizon. The only good prediction that came out of the meeting was that the rate of inflation that has been hurting American consumers would begin to settle down. But, many experts point to the fact that the Fed has been wrong about similar projections for the last several years.
Please share your thoughts and opinions about the Federal Reserve preparing to raise interest rates – a move that will raise prices on just about everything American consumers purchase – by emailing [email protected]. Do you agree or disagree with the Federal Reserve raising interest rates on the American consumer? Why or why not?