Money Banking Follow Fed Hikes Rates Again as Inflation Slows. What to Expect From Rising Interest Rates

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Last May, The Wall Street Journal reported that more than seven million households moved to a different county during the COVID-19 pandemic in 2020 -- nearly half a million more than in 2019. Remote working options and the desire for more space spurred a mass exodus from dense metropolitan areas into more affordable areas.

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rising prices. From groceries to gas

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Much of what we're seeing in the economy right now can be attributed to the pandemic. In March 2020, the onset of the COVID-19 pandemic caused the US economy to shut down. Millions of employees were laid off, many businesses had to close their doors and the global supply chain was abruptly put on pause. This caused the flow of goods produced and manufactured abroad and shipped to the US to cease for at least two weeks, and in many cases, for months, according to Pete Earle, an economist at the American Institute for Economic Research.

During periods of high inflation, your dollar has less purchasing power, making everything you buy more expensive, even though you're likely not getting paid more. In fact, more Americans are living paycheck to paycheck, and wages aren't keeping up with inflation rates.

High inflation levels have stemmed primarily from an increase in gas, food and housing prices

recession would cause pain to the economy and American workers

the high cost of borrowing helps to stall the economy

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