US Interest Rates Remain High Despite Fed's Decision, Raising Concerns for Investors and Consumers Alike
The United States Federal Reserve has decided to maintain interest rates at their highest level since before the 2008-09 global financial crisis due to high inflation. This has led some experts to predict that inflation may persist for a decade or more, prompting central banks to consider higher rates that may last longer. The current situation is reminiscent of the market cycle of 2001-07, with record-high household debt and rising delinquency rates on credit card loans. Despite this, the US economy remains resilient and the consumer continues to spend, with wages rising faster than inflation. However, the enormous debt pile of US consumers will eventually topple, especially if interest rates remain high for an extended period.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Rumble to spend up to $20M on Bitcoin in new treasury strategy
What it’s going to take to hit $100K
MicroStrategy announced that it purchased 55,500 bitcoin last week, but that didn’t quite push BTC over the 6-figure edge
Why analysts are upping price targets for MSTR and COIN
MSTR shares hovered around $402 at 2 pm ET Monday — down 4.7% on the day but up 70% from a month ago
FIFA Teams Up with Mythical Games to Launch Blockchain-Powered Mobile Soccer Game