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

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.

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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%.

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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.

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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