The United States could be facing an era of prolonged high interest rates unlike anything seen in recent memory.
According to Axios, a number of major factors indicate that high interest rates could be the new norm in the U.S., including the movement of rates, the rate of inflation, and the recent outlook for the Federal Reserve’s policy in addressing these issues.
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The Federal Reserve is likely to further slow its historically aggressive pace of interest rate hikes at its Wednesday meeting as inflation cools, but consumers will still feel the pinch of higher interest rates, according to economists who spoke with the Daily Caller News Foundation. The Fed is likely to hike interest rate hikes by just 0.25 percentage points after its Wednesday meeting, setting the range for its target federal-funds rate to between 4.5% and 4.75%, due to slowing inflation, The Wall Street Journal reported.
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