The US economy is still running on a post-COVID sugar high that's about to run out and make 2023 feel miserable
Roughly $5 trillion in government stimulus, historically low interest rates, and a salvo of emergency lending programs helped the US economy rocket out of its slump and stageBut that fast recovery came at a price. Inflation started to heat up in the spring of 2021, first powered by used car prices but soon spreading to gas, food, and housing costs.
The monetary-policy cops showed up at the party soon after, but by then it was too late. The Federal Reserve started raising interest rates this March, making all forms of borrowing more expensive and hitting the brakes on economic growth. Mortgages, car loans, and credit card debt got pricier over a matter of weeks.
The removal of huge stimulus and the shift to slower growth will be a"painful process akin to waking up the next morning with a hangover after a long, hard bender," Lauren Sanfilippo, director of Bank of America's Chief Investment Office, said. The bastions of the post-lockdown rebound are already deteriorating, and as a new recession looms, Americans are looking less prepared by the week.For starters, households aren't as flush with cash as they were one year ago. Americans built up a $2.1 trillion savings cushion through the early stages of the pandemic as spending plunged and stimulus hit households.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Starfield game director wants players to avoid dying in spaceBethesda is making tweaks to its space-themed RPG ahead of the big launch in 2023.
続きを読む »
Sugar Land water bill going up by $3 for all residents in 2023; Here’s whySugar Land residents’ water bill will increase by $3, starting in 2023, after the city’s approved budget includes a Stormwater Compliance Fee.
続きを読む »
Glastonbury Festival 2023 Ticket Price Soars, Organizer Cites ‘Incredibly Challenging Times’Ticket prices for the immensely popular Glastonbury Festival – the biggest live music event in Europe – have soared for 2023, with the festival organizer citing the current economic sce…
続きを読む »
Who Is RB3 In 2023 NFL Draft?A positional group as impressive as any in the upcoming 2023 NFL Draft, a slew of running back talents have begun to jostle for draft ...
続きを読む »
Bay Area projected to come out on top for economic growth this year: report - Silicon Valley Business JournalSome good news amid all the layoffs: The Bay Area is chalking up strong growth this year, according to a new report from the Kenan Institute of Private Enterprise. KenanInstitute UNC KenanFlagler
続きを読む »