Insight - Sep. 20th, 2022
Insight
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20-Sep-2022
Today on Insight, John and Josh Rosenstern discuss the Federal Reserve Bank’s September market meeting looking at the economy, inflation, and the projection of interest rates, as they will likely be raised again. An 8-percent rate of inflation means that the cost of items today have gone up 8-percent in the last year. This doesn’t mean that prices will go back down, even if the rate is dropped. Brother Josh says once prices go up, they very rarely go down. We are seeing demand destroyed; people will hesitantly finance or borrow for purchases as interest rates go up, already existing loans, with variable rates, will go up as well.
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