Fed Spikes Interest Rates to Curb Inflation as Recession Fears Mount

This is the Federal Reserve’s third interest rate hike this year and we’re only halfway through 2022. Even if it slows inflation, there is concern it will trigger a recession.

Families coast to coast continue to struggle to make ends meet, from grocery shopping to putting gas in their vehicles. Skyrocketing prices on just about everything is busting budgets around the country.

Americans are now spending about $350 dollars more every month for the same goods and services as last year. Gas is 50 percent higher, groceries up nearly 12 percent, and rent has increased 26 percent.

Read the full story from CBN’s Tara Mergener:
https://www1.cbn.com/cbnnews/us/2022/june/fed-spikes-interest-rates-to-curb-inflation-as-recession-fears-mount

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