As President Joe Biden met with congressional leaders again today to
President Joe Biden and House Speaker Kevin McCarthy at The White House
resolve the nation’s impending debt limit crisis, many Americans are confused as to what this particular situation, if left unresolved, will do to our economy. Understanding how the U.S. Treasury pays its obligations, as well as how investors far and wide will be impacted, thus creating a potential global chain reaction of economic downturns, is kind of complicated. Continue reading “The Debt Limit Explained”
The Associated Press reported this morning that the employers added
Multi Colored Business Graph With Red Arrow Sign Showing Upward Direction
528,000 jobs to their payroll in July, 2022. This dropped the unemployment rate to 3.5%, something that hasn’t been seen in the United States in over 50 years. These figures bring the American employment market back to pre-pandemic levels of February 2020.
250,000 Jobs Were Expected
The jobs report more than doubles what economists had expected for July. While this is good news for the American economy, certain anxieties still exist about rising inflation and the risk of recession. While income has risen on average just over 5% in the past year, inflation has risen just over 9%, which has eaten up any financial gains on behalf of workers. This, combined with the Federal Reserve’s plan to continue to raise interest rates, has some worried about how the economy will fare as we near the 2022 midterm elections in June. Wall Street has also reacted with stocks dropping slightly as of this posting.
