The Federal Reserve now finds itself in a bind as to whether to cut rates soon or leave them elevated to further slow inflation.
Amid signs of a weakening labor market, the Federal Reserve now finds itself in a bind: If it cuts interest rates too soon, it could risk reigniting the price increases that have bedeviled the post-pandemic economy. But if it keeps rates elevated, the job security of millions of Americans could be further jeopardized.
The Consumer Price Index for the month of June, due to be released by the Bureau of Labor Statistics this morning at 8:30 a.m., is expected to offer further insight into the Fed's potential next moves.
The unemployment rate now stands at 4.1%, its highest point of the post-pandemic period and a level not seen since February 2018, excluding the coronavirus unemployment surge in 2020.
a lot of the jobs no one can afford to work
the monthly cost of just housing and food alone is instantly more than what employers are paying out
$7.25 an hour is still the federal minimum wage despite the fact that people voted for Biden
starting pay since the pandemic has dropped as well to $13 an hour or lower at most places
eventually no one will be able to afford to work grocery, restaurant, oil change places, or any of the vital service industries
already the reality in most of the US