Another Interest Rate Hike is Imminent!

Despite ten straight interest rate hikes by the Federal Bank since March, inflation has not gone down to 2%—the goal for the US economy. In fact, it remains quite high, especially in sectors like restaurants and healthcare, where supply and demand have not yet balanced between one another. Experts claim that while policy has been restrictive so as to lower inflation, it may not be restrictive enough. Meaning, while we have been enjoying a pause, another rate hike is imminent. The exact timeline is not certain, but the Federal Reserve Chair Jerome Powell has said he is not opposed to consecutive hikes picking back up. Another suggestion for when the hikes may occur is every other occasion that Fed officials meet. If you have any questions on how these hikes could affect you and your business, reach out to us at 832-295-3353. We would love to help you.