The Fed announced that it needs to cool down the economy to fight back against inflation. When this happens, jobs are lost. This could be ruinous to families, as costs get out of control.
Celsius, a cryptocurrency lender, let go of 50 employees and suspended withdrawals from its platforms last week.
Companies, feeling the pain, will lay off workers, enact hiring freezes and rescind job offers. There could be salary cuts and requirements to return to an office, as executives get nervous and want to exert control over their staff.
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