What goes up, must come down, and the same has been true for inflation.
Inflation is an ugly tax that reduces the buying power of all Americans, rich or poor.
Why, you may be wondering? Really it’s a simple case of too few available spaces to fill expanding business operations . Owners are bullish and pressing for higher rents. After all, where is the operation going to move? Labor — especially skilled workers — was in short supply before the pandemic. Now that we’re back to work, companies must pay more in salary, benefits and perks to attract and maintain quality employees. Therefore, another layer of costs is added to the product made or shipped.
In an effort to quell inflation, our government has adopted a policy of increased interest rates. Now, on top of rents, labor and materials, the cost of money is higher. When the Fed tightens credit by charging banks more, the trickle-down to consumer prices eventually crashes home.
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