CAN YOU COMMENT ON MY DISCUSSION? https://www.federalreserve.gov/monetarypolicy/fomcpresconf20230503.htm After watching the video, I do think that the Federal
Question:
CAN YOU COMMENT ON MY DISCUSSION?
https://www.federalreserve.gov/monetarypolicy/fomcpresconf20230503.htm
After watching the video, I do think that the Federal Reserve is getting the situation under control. Jerome Powell stated that inflation has moderated somewhat since the middle of last year. Inflation rates have been steadily declining since its peak in 2022 of around 9%. Powell reported that the inflation rate in May was around 4.2%. Even though inflation is still above the target 2% that they want, it is now trending in the right direction. Increasing the federal fund rates is working. My concern is in the effect on the people. Powell stated that he anticipates there will be tighter credit conditions for households and businesses meaning we could slide into a recession. Getting credit may be more difficult and there may be negative impacts on employment. Powell anticipates a period of below-trend growth and some softening of labor markets as a result of their effort to control inflation. Knowing all of this information makes me concerned about my employment. I work in the consumer/service industry. I work for Belle Tire which means that if people have less money, they are more likely not going to be in the market to upgrade or even replace their tires unless absolutely necessary. If our sales drop, I then have to worry about being laid off from my job. Fewer sales mean less need for employees. I have my mortgage rate and car loan locked in which means I won't need to apply for credit in the near future, so my biggest concern is my employment.
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill