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In 2022, consumer credit increased 7.8% from the year before. But in December, the growth in borrowing decelerated.
The dollar’s strong because the Federal Reserve’s been raising interest rates.
Some analysts say acceptance plays a role in the recent increase of home sales.
Wages increased 1% in Q4. Inflation is also slowing. All that could impact whether — and by how much — the Fed hikes interest rates.
In Southern California and South Carolina, businesses are looking for loans. But in the Midwest, owners are hesitant to borrow.
Some officials want a 0.75% rate hike at the next meeting. Others think a 0.5% increase is enough.
We don’t yet know if the Fed’s rate hikes have fully shown up in the economy. That could take many months.
A lot of investors were betting that the Bank of Japan would join other central banks in hiking rates to beat back inflation.
“I don’t know what this year is going to bring,” said one experienced Montana agent.
Prices were up 6.5% over the past year, well above the Fed’s targets but the smallest increase since October 2021. It’s a sign that inflation is easing.
