Fed interest rate hikes are likely over, with Fed announcing its latest decision Wednesday
USA TodayNOV 2023
The economic recovery from the COVID era is nearing the finish line and we can see the light at the end of the tunnel. Inflation, jobs, wages, and consumer spending data are all doing so well, even the deliberate Powell has been moved to hold rates steady and forecast potential decreases. The markets reacted well to the news and it looks like the US, under Pres. Joe Biden, is headed toward a great 2024.
The Biden administration and the Fed can spin these numbers in their favor, but they shouldn’t ignore that Americans have faced more than two years of negative real wages because inflation has outpaced wage growth. Americans’ spending power has been decimated and their debt has skyrocketed because of the inflation brought on by Democrats’ big spending. We can’t trust the current regime to truly get the economy rolling.