Category: economic pressures

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Powell: More Rate Hikes May Be Needed to Curb Inflation

August 25, 2023

The chairman of the U.S. Federal Reserve, Jerome Powell, warned on Friday that inflation remains too high and signaled the central bank may continue raising interest rates to get it under control. In remarks at the Jackson Hole symposium, Powell acknowledged recent progress in lowering inflation but said there’s “substantial further ground to cover” before…
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Record High Credit Card Debt: 55% of Americans Concerned About Repayment as Inflation Pushes Consumers to Credit Reliance

June 24, 2023

According to a Newsweek poll conducted by Redfield & Wilton Strategies, 55% of Americans are “very” or “fairly” concerned about paying off credit debt this year. The total credit card balance of Americans is at its highest point since the U.S. Federal Reserve began tracking the data, and current metrics indicate that Americans are using…
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