A year of economic 'resilience' for Utah, and the nation, as 2023 draws to a close
This time last year, inflation had been on a six-month streak of declines after peaking at 9.1% in June 2022 and Federal Reserve Chairman Jerome Powell was sounding cautiously optimistic about the road ahead, but hedging any predictions that the U.S. economy could emerge from its profound, post-pandemic imbalance without bottoming out in a recession. The monetary body had just assessed a .5% increase to its benchmark federal funds lending rate, marking the seventh consecutive increase going back to March 2022. The Fed’s Open Market Committee would go on to levy four more increases in ...
Source: yahoo.com
